Bowness-on-Windermere based M&M Bowness Ltd has acquired Sutherlands, with the aim of turning the site into a cutting edge free of tie gastro pub over the next 12 months. The acquisition has been part funded by a £150,000 finance package from Santander Corporate & Commercial, with a total ccommercial investment in the region of £300,000.
The main party behind M&M Bowness Ltd is Colin Monk, a successful hotelier and restauranteur in the region. Colin is a committee member of the Lakes Hospitality Association and also on the commercial members committee for Cumbria tourism, currently runs other local businesses including The Howbeck Retreat and Caffe Riva, which has been shortlisted for a Cumbria Tourism Award less than a year after opening.
The acquisition of the lease for Sutherlands restaurant will see Colin now being custodian of this historic building which he will sympathetically develop into the new business which will generate employment opportunities in the local area. Colin plans to completely refurbish the restaurant later this year before a formal re-launch and rebrand in the spring of 2016.
Colin Monk, Director, M&M Bowness Ltd, said: “We have enjoyed a successful relationship with Santander Corporate & Commercial over many years and have come to value their advice and expertise with regards to our business plans. The acquisition of the lease of Sutherlands is an exciting prospect for us as we continue to expand in the region.”
Richard Shuter, Relationship Director, Santander Corporate & Commercial, said: “Colin’s ability to enhance his businesses by bringing the buildings back to life and creating employment opportunities is very impressive. Colin has been a long standing client of Santander Corporate & Commercial’s and, over the years, the funding from Santander has allowed the business to successfully expand its portfolio of hospitality businesses in the Lake District and we are confident that Sutherlands will be an outstanding success.”
Nik Tunley, Partner, The Endeavour Partnership LLP. added: “It was a pleasure to work with the team at Santander and Colin in this acquisition. Acting for both the Bank and the acquirer helped to smooth the lending and acquisition process. We look forward to acting for both clients again in the near future and wish the team at Sutherlands every success with the new venture.”
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Notes to editors
For media enquiries regarding M&M Bowness, please contact Colin Monk on 07894 950916 / email@example.com
For Santander Corporate & Commercial media enquiries, please contact:
Bijal Tanna 020 7756 4189 Mobile: 07860 259 217
Jonathan Akerman 020 7756 4190 Mobile: 07850 640 770
The Santander Corporate & Commercial press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.
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