JMT Finance, the privately owned and funded commercial property lender, has announced the completion of an 80% LTV first-time landlord commercial purchase and refurb project.
The commercial property lender has funded the move and expansion of a long-established Newark-based business into new premises which includes a hair salon, coffee shop, wine bar and boutique Airbnb rental property.
Guthrie Jones Property is a first-time landlord who purchased the Harbour Master Café in Newark which previously operated as a tea room/café downstairs with living accommodation upstairs. One of UK’s leading architects, Charlie Hearn, was commissioned to redesign the property to incorporate the new businesses.
Already established and successful hair salon, Inizio Hair will occupy part of the ground floor. This will have an adjoining coffee shop which will also operate as a weekend wine and tapas bar. The accommodation upstairs has been redesigned to become a boutique Airbnb rental property.
The introducing broker for this commercial project was Julian Lawrence at Choice Business Finance and the legal process was completed by Robin Sharp of JMW Solicitors.
Chris Jones, managing director at JMT Finance, said: “Les is a first-time landlord but presented his business plan with such knowledge and passion that we were happy to support the venture. This demonstrates the benefit of JMT being able to take a personal approach to lending, rather than following generic predetermined criteria.
“As a lender, we are able to take on the attributes of the old style bank manager and assess applicants on their individual merits. We always meet our potential borrowers face to face and take the time to understand their ambitions and requirements. I have every confidence that Les and his team will make a huge success of this new project and I am very much looking forward to paying these various businesses a visit.”
Lee Jones, owner of Guthrie Jones Property Ltd, added: “JMT have been incredible. What started as a dream, was made a reality. The experience was personal and pleasurable, and we can’t recommend the guys at JMT highly enough.”