by Conrad Robins | Feb 24, 2023
Background – Expanding the business through property acquisition
Our clients, an engineering company, owned two commercial investment properties. They wished to buy a third light industrial property for £1 million adjacent to the two they own where they would relocate their business. Simple you might think, however they needed to borrow the full purchase price plus stamp duty and VAT. They approached their own bank who declined to assist. However, we made a more compelling application to the same bank and were able to demonstrate that they could afford the repayments on the total debt, and that taking a charge on one of the existing properties together with the new one would be sufficient security for them to lend against.
Challenges – Legal complexities with property security
The bank agreed. Valuations were done, signed off and solicitor instructed. The client’s solicitor then informed us of a little-known piece of English law stating that if someone owns a number of adjacent properties, the rights and easements fall away and if the bank had to exercise its rights over the properties being offered for security, then these two units would not have the rights required… The only way was to offer the bank security over all three units.
Solution – Structuring the deal to satisfy lender requirements
Luckily we knew the right people to approach at the bank and this was quickly proposed by us and subsequently executed with the correct caveats and the transaction moved to completion.
Outcome – Successful £1m loan completion
Thanks to ASC’s expertise and lender relationships, the £1m loan was successfully completed, allowing the client to expand their operations and secure their long-term growth. This case highlights how strategic financing can unlock new opportunities — learn more about our Commercial Mortgages and how we can support your next project.
by Conrad Robins | Dec 5, 2022
Background – From a love of motorcycles to a business opportunity
Mark Blackley is a long-time motorcycle enthusiast so when he told his wife Emily that he was popping out to look at a bike, she wasn’t surprised…but she was amazed when he returned saying that he wanted to buy the business!
Once the initial shock had worn off, the couple discussed the idea at length and thought “let’s go for it!”
Challenges – Finding a lender for an established business
Armed with strong CVs (Mark ‘s background in the motor trade in particular) and a robust business plan, prepared in consultation with a recommended accountant, the Blackleys looked to the lending market but couldn’t find a bank to whom they could even put their proposal. “Bizarrely,” said Emily, “there was more enthusiasm for start-ups than for the purchase of an existing, profitable business”
Paul Collins of Miller Commercial, agent for the business, kindly recommended Conrad Robins at ASC Finance for Business and he arranged an early Zoom meeting to hear their plans
Solution – Expert guidance and the right financial partner
Conrad was impressed by the couple’s knowledge and enthusiasm for the project and their comprehensive business plan and armed with his extensive market knowledge, he swiftly identified a suitable lending partner- ironically a high street bank- who were delighted to offer competitive terms for a loan.
“Conrad was incredibly helpful and working with him just seemed right”, says Emily. “He was knowledgeable and straight-talking and always there to answer our questions”.
Outcome – A smooth takeover and thriving new venture
With the ASC team coordinating the various professionals involved, the purchase of the business proceeded smoothly, as indeed did the take-over of Cornwall Kawasaki by the Blackleys. Mark is in charge of sales, parts and the workshop and Emily looking after the accounts, payroll and the back- office organisation.
As first-time business owners, Mark and Emily are delighted with the seamless transition since taking over and the business is trading very well, in line with the business plan or even exceeding projections.
Conrad commented “Emily and Mark were great Clients to work with. I’m delighted to see them as business owner-operators in their own right!”
Dare I say that this is yet another example of how ASC continue to be Leaders of the Pack.
(To find out more, contact sales@cornwallkawasaki.co.uk just don’t offer to buy the business!)
by Conrad Robins | Aug 22, 2022
Background – Relocating and seeking business finance support
We know that when clients need a bit of a helping hand, ASC can really add its value. Dan Gateshill, ASC Hampshire, Dorset & Isle of Wight, received a request for finance from Mark, of Purrfect Pet Transport. Mark was then residing in Portugal and operating a boarding Kennels & Cattery, with the added service of transporting pets between destinations throughout Europe for their owners.
Looking to relocate back to the UK, Mark put his home and Kennels up for sale to use as the deposit for the purchase of the leasehold of Lower Hey Boarding Kennels & Cattery.
Dan Gateshill got straight to work and within 1 working day of submitting the application for a flexible business loan we received indicative terms.
Challenges – Rising costs and unexpected changes
So far so good, but then the vendor increased the price of the property! Dan was able to leverage his relationship with the lender to negotiate an increased loan amount.
Solution – Securing additional funding through strong lender relationships
When war broke out in Ukraine, Mark wanted to complete on the purchase even earlier – as it meant he could use the premises as a quarantine centre for abandoned animals. However, as his house in Portugal had not yet sold, he once again needed to borrow more!
ASC spoke to the bank, using our strong personal relationship with them, and explained the situation, asking to increase the loan. ASC were able to persuade the bank to get the deal done.
Outcome – A successful purchase and thriving new base
Our client completed and is now happily settled into his new Boarding Kennels & Cattery base in Lower Hey. Check out Mark’s Facebook Page for more details.
by Conrad Robins | Feb 15, 2022
Background – Rethinking EasyPZ Stay during challenging times
The Cliffe family, father Dick, son Simon and his partner were operating the thriving EasyPZ Stay backpacking business in Penzance, Cornwall until they hit a couple of significant bumps in their road. Sadly, Simon’s relationship had broken down at the same time as their bank loan facility reached the end of its term, and then to compound matters, the global pandemic arrived!
Trading during Covid restrictions and beyond with limitations on multi-occupation rooms obliged the partners to rethink and restyle the business in a unique way as a hybrid of a B&B and hostel.
The plan was to offer friendly, relaxed, and social accommodation to the market, appealing to those who enjoyed active outdoor pursuits, including walking, surfing and cycling for which the business was ideally located. Whilst travelling in Sri Lanka, Simon had the good fortune to meet his new partner, Maria. Originally from Sweden, she shares his desire to run a sustainable, eco-friendly business and with father Dick stepping aside to enjoy more free time, Maria has also brought a strong sense of Swedish “fika” to EasyPZ Stay and Cornwall!
Challenges – When funding stalls and plans are disrupted
Negotiations with their funders were “not getting anywhere” according to Dick, despite good performance prior to Covid, so he sought help and following a professional recommendation, this arrived in the accomplished form of Conrad Robins at ASC.
Solution – Expert support from ASC to secure new terms
Armed with the revised business model prepared by the partners to cover the Covid period and its aftermath, Conrad applied his extensive knowledge and experience in the lending market, and perhaps somewhat surprisingly for his clients, Conrad identified that the current lender was indeed the best match.
Conrad was able to demonstrate to the bank that the remodelled business was indeed viable, and he succeeded not only in obtaining agreement for a new facility but on improved terms and with no additional loan fees!
Outcome – A successful restart for EasyPZ Stay
EasyPZ Stay was born! “A very good outcome indeed”, according to Dick, “ASC’s service was very good, faultless in fact!”
It happens more often than people think that we are able to encourage a lender to revisit a decision by presenting a well-considered and viable business plan, that is exactly what Conrad did here. It is a good reminder of the value that a broker can add.
If you want to find out more about EasyPZ Stay and the Cliffe family, follow them on Instagram or check out their website.
[* (in Swedish custom) a break from activity during which people drink coffee, eat cakes or other light snacks, and relax with others]
by Conrad Robins | Dec 8, 2021
Belief! That’s what you need when you’re planning something out of the ordinary. And if it’s a business proposal, then you also need a good Broker – one who believes in you.
Background – Building a vision for outdoor learning
Rachel Landen and Nicky Lewis had a project in mind and were determined to achieve it. As specialists in early years learning and with Rachel’s background in farming, their unusual proposal was to establish a Forest School – an outdoor pre-school and holiday club.
Challenges – Overcoming planning and funding hurdles
A site had been identified that met their requirements but obtaining the relevant planning permission proved far more difficult to achieve.
Solution – Expert support from ASC and Conrad Robins
After protracted applications and appeals, that initial hurdle was overcome but funding for such a distinct project was the next obstacle. Rachel recalled a recommendation from start-up funders South West Investment Group and contacted Conrad Robins at ASC for his professional assistance.
The partners were delighted with Conrad’s attitude and knowledge, his grasp of the concept and in particular his belief in them. This was crucial for a unique finance proposal with no track record but a viable business plan. “This was a lifetime opportunity, and we were determined to give it a go” said Rachel, “Conrad was just amazing.”
For such a novel finance proposal Conrad devised a strategy to provide initial funding to be followed by a longer-term facility and two years on from the initial idea, Keepers Gate Forest School finally opened in September.
Conrad was delighted to assist them “I have nothing but admiration for Rachel and Nicky, they were both so determined to get this project on wheels – how could you not support their efforts? Congratulations to them, we know the school will be a great success.”
Outcome – Success for Keepers Gate Forest School
With encouraging early numbers and a very successful first holiday club behind them, the prospects for Rachel and Nicky are very encouraging and the children are benefitting from such a stimulating environment which will greatly enhance their early educational progress and well-being, with longer term benefits in environmental awareness and positive mental health.
You can follow progress on their website and Facebook.
