TO ASSIST YOU WITH YOUR PURCHASE WE ARE ABLE TO INTRODUCE YOU TO INDEPENDENT SPECIALISTS IN THE FOLLOWING FIELDS
ACCOUNTANCY
See our comprehensive Accountancy page.
INSURANCE
It is essential that you take expert advice to ensure that you have adequate cover for:
Buildings-Business-Contents-Employers & Public Liability-Legal Expenses-etc.
Note: It is a legal requirement that if you employ staff that you have
Employers Liability Insurance. See our Insurance page
MORTGAGES & FINANCE
Freehold, Leasehold & Re-financing
FREEHOLD
Generally loans up to 70-75% of the going concern valuation are available to a suitable applicant subject to status. Loans are normally for a period of 10-25 years. In certain circumstances 30 year loans may be available.
Brewery finance may also be an option in return for a minimum annual barrelage or partial tie.
LEASEHOLD
The maximum loan available is generally 50% of the going concern valuation. The term will depend on the unexpired portion of the lease.
For a free of tie lease, brewery finance may also be available
Loans in excess of the above amounts are only possible where there is additional available security.
REFINANCING
Please contact us should you consider that your current repayments are excessive or if you wish to refinance your business.
FOR GUIDANCE: The monthly capital and interest repayments on a £100,000 Loan over 20 years @ 6.25% will be in the region of £735, whilst a 30 year loan would would be in the region of £616
SOLICITORS
You will require a solicitor experienced in the sale and purchase of licensed premises and Licence applications whether you are purchasing or selling, a freehold or leasehold business.
Unless you are experienced you should also seek the advice/services of a solicitor with regard to all Licensing Matters.
STOCKTAKING
We would recommend you use the services of a Stocktaker on the day of completion. It is also advisable to have regular stocktakes to ensure correct gross profit margins are maintained.
SURVEYORS
Building, Structual Engineers, Electrical, Gas, PAT Testing, Asbestos Surveys
Whether you are purchasing a Freehold or Leasehold property you should consider having a Building Survey or Condition Report.
Asbestos Surveys, Electrical & Gas Certificates, PAT test reports are increasingly requested as part of the conveyance procedure.
TRAINING
In order to obtain a Personal Licence you will need to have obtained the new BIIAB National Certificate for Personal Licence Holders.
Depending on your previous experience you should also consider attending a more extensive course covering: Licensing Law - Cellar Management - Food Hygiene - Retailing etc.,
If you are taking on a Leasehold business the Landlords may insist you attend their training programme.
Whilst there are a number of training courses run throughout the country, you may wish to look at the award winning courses run by Anthony Stockbridge at www.asa-training.co.uk