Pub chain expands with support from NatWest

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Pub chain expands with support from NatWest

A Blackpool businessman has transferred all his banking business to NatWest after the bank’s offer of a funding deal enabled him to buy the freehold of his pub.

Peter Flynn, landlord of the Breck Club, with Philip Houghton

Peter Flynn bought the leasehold of the Breck Club in Blackpool in 2009 following 20 years experience in maintaining and repairing pubs, clubs and restaurants.

He was unable to borrow funding from other banks at the time to buy the freehold, but four years later NatWest approached Flynn through his accountancy firm to offer business support. Flynn worked with Philip Houghton, Relationship Manager in the NatWest Blackpool office to secure a commercial mortgage through the Government’s Funding for Lending Scheme.

The funding has enabled Flynn to finally buy the freehold of the Breck Club from the brewery, benefitting from savings of at least £15,000 a year on stock for the pub.

Flynn said: “Having the freehold will give me peace of mind and save me a fortune. I’d already invested a lot of time and money into the club before I’d even had the freehold and now it’s all been worthwhile.

“NatWest was the only bank to help me when I needed it; I’ve now moved all my accounts to them.”

Since taking on the pub in 2009, Flynn has made significant changes including raising the ceiling to offer a much larger club room and a kitchen which has quadrupled the business’s turnover.

Flynn also owns a string of pubs throughout Blackpool including Talbot Social Club and Tangerine Tavern which have also benefited from the acquisition: they will get a larger discount through the brewery, resulting in further savings of £20,000.

Most recently Flynn has bought the leasehold of the Waterloo Hotel and Bowling Club and is currently in the process of developing the club.

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