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Pub loan for nationwide success
Reported on Fri, 07 Apr 2006
A pub chain has celebrated the opening of its latest establishment the same week it secured its financial future via a refinancing deal, while aspiring publicans could achieve comparable success by taking out a specialist pub loan.
The World's End inn in Northampton has opened following a £1.5 million redevelopment and boasts 20 bedrooms, as well as predicted weekly summer takings of £25,000.
The directors of Mercury Inns, who along with the World's End own five freeholds and manage 21 other sites, only recently bought out the company's original private equity investor.
Kevin Thornton, one of the company's directors, said: "The World's End is too big for a single site operator and wanted someone with a proven background."
He added that Mercury Inns is planning to open eight more traditional pubs with a contemporary twist over the next two years.
Businesspeople could match the accomplishments of Mercury Inns by taking out a low-rate pub loan to make significant investments or acquisitions.
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