5 days ago
New owner for the Crown Inn pub in Caergwrle
Businessman Robert Venn approached law firm Brindley Twist Tafft & James (BTTJ) when he was in the process of preparing to buy The Crown Inn on the High Street in Caergwrle.
Alex Khan, managing partner at Midlands firm BTTJ and an expert in commercial property law, explained Coventry-based Mr Venn's initial request was for assistance with conveyancing on his property, as he was in the process of extending the lease to make it more attractive for sale.
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But as the same time he mentioned the potential of selling his home and buying the pub in Wales, and so Mr Khan explained the complexity of the process, what steps were needed, and in what order.
Mr Khan said: "We are delighted Mr Venn is now the new owner of The Crown Inn.
"He needed initial expert advice regarding negotiating terms and finalisation of the lease extension on his property.
"Once this was completed, he was able to sell his flat for a higher price, as the buyer saw the extended lease as better security.
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"Mr Venn was then able to combine the funds raised from his residential property sale with a commercial loan that enabled his purchase of the pub.
"As ever with these investment projects, there were various twists and turns along the way, and we were happy to help guide Mr Venn through what developed into a complex legal and taxation process."
The freehold interest in The Crown Inn had been marketed by property agency Sydney Phillips at an asking price of £230,000 - although the final purchase price has not been disclosed.
The traditional pub is an end-terraced property with a bar, lounge and seating for 65, a split-level beer garden, and five-bedroomed owner's accommodation above.
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Mr Venn said: "I am thrilled to be the new owner of The Crown Inn and look forward to the venue serving the community in Caergwrle with a warm welcome for many years to come.
"The advice I received from Alex at BTTJ was truly excellent. He helped guide me from the inception of an idea through to completion of a pub purchase, with an assured calm that I doubt could be rivalled.
"Also, because I was purchasing the pub as a going concern, there were various complexities involving the transfer of the business and VAT issues, a stumbling point for other experts involved, but all expertly handled by Alex.
"The process was lengthy and complex, but thanks to BTTJ I have now achieved my ambition of owning the pub."
