Fit-Out Of New-Concept Hospitality Venture

£1million finance lease for fit-out of new-concept hospitality venture.

Asset Advantage has approved a facility of £1million to fund the opening of a second members’ club in London. The entrepreneurial client was introduced to Asset Advantage by broker partner Chris Topping, Managing Director of Jay City Finance Limited.

The client is setting up an innovative hospitality space which creates welcoming, accessible and inclusive family clubs and Ofsted registered nurseries with a purpose. The successful young entrepreneur behind the business had a vision of creating hubs for people to enjoy face to face interaction, in a world that can be so focused on being online.

The clubs offer co-working spaces, a gym and library for adults; a restaurant, café, cinema and fitness classes for families; and a nursery, crèche, and soft-play area for the young ones.

The concept is proving so popular that membership of the second club sold out within 11 minutes of opening.

£1million finance lease for club fit out including HVAC, Children's Playframes, CCTV/Door Access, Audio Visual, Catering Equipment and a Retractable Roof and Canopy over the outdoor swimming pool area.

Chris Topping said: “I brought the deal to Asset Advantage to finance the fit-out of the less tangible assets, often seen as the more challenging assets of aircon, glazing etc, which some other funders would not consider.”

Insight from Philip Knight, why I approved this deal: “The client was able to demonstrate the success of their business model from their existing site, so funding their second opening with asset finance was something we were keen to do. An enthusiastic customer and a good supporting, and hard working, introducer made getting to the deal a relatively straightforward process.”