Company
The Crown Tavern pub based in the St. Jude’s area of Bristol and owned by successful landlord, Sam Gregory, adds to an already impressive roster of public houses in the region, including the famous Bank Tavern, which recently made national headlines for its Sunday Roast bookings.
Funding Requirement
Sam secured a six-figure funding deal with Reward to purchase and redevelop The Crown Tavern.
Finance Solution
The pace and flexibility of funding we provided were key to this deal as Sam needed to move fast when the opportunity arose to purchase The Crown Tavern from former landlords Dominic and Gloria O’Connor, who had run the pub for over 30 years.
Sam started his career as a part-time staff member at The Bank Tavern before accepting the opportunity to take the pub on as his own. Fifteen years later and Sam has turned his attention to The Crown Tavern. With the help of his business partner, Stephen Best, he purchased and sensitively redeveloped the 18th century pub, ensuring it retained its heritage, traditional features and local charm.
Harriet Gibbs, Business Development Director for Reward Finance Group, commented: “Despite the reluctance of traditional lenders to finance property investors, SMEs and the hospitality sector, we’ve played a key role in funding major commercial property transactions and redevelopment schemes. Sam and the team have established a hugely successful cluster of pubs in Bristol, and it was a pleasure to help get this over the line and help finance the next stage of their growth.
“We’re delighted our funding will contribute towards opening the doors once more of this popular establishment and providing a catalyst for further expansion for Sam and his team in the future.”
Results
The funding was integral to helping Sam purchase and redevelop the pub, providing the catalyst for further growing his already successful roster of pubs in Bristol.
Client Testimonial
“To be able to purchase The Crown Tavern is a real privilege as it is steeped in history and complements our growing portfolio of successful pubs.
“All of this has been made possible by Harriet and the team at Reward who have taken the time to understand the business and provide a fast and flexible funding solution. This meant we could complete the purchase quickly and ensured we stayed on track to modernise the pub within a very tight deadline.” Sam Gregory, owner of The Crown Tavern