A complex deal for a building with a past.

DSCF3973 DSC_0001 Here are some pictures of our Queens Head House before we had even signed on the line. Through the two years and two months we tried to buy this property and the door literally kept closing as banks said “NO” and the property sold to another buyer. But every time we put it to bed and dealt with the disappointment the door would open back up again, with a different deal on the table and less works legally required.

DSC_0018 It’s a complicated tale and finding a mortgage during a recession when the banks just don’t want to lend, coupled with the fact that invariably we are a square peg trying to fit into a round hole! We could find a lender who would lend on such a project but not to Small Business owners and we could also find a lender who would lend to us but not on a project like this!

DSC_0016 In the end we put our heads together with the sellers one day round the table in the beer garden and came up with a plan… So now we will rent from the seller until we get the property sorted out (3-7 years) and pay a monthly amount off the capital as well as a rental payment which will enable us to use our deposit savings to renovate, repair and restore this historic grade II* listed building. There are a number of conditions that we need to meet (in a repair schedule) but we’ll get to that in the days and weeks to come… For now we just wanted to show you some pictures! DSC_0019

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