The Bird in Hand opens in Chester with support from Bathgate Business Finance

Bathgate Business Finance have helped a new business owner realise his vision for The Bird in Hand restaurant in Guilden Sutton, Chester.

When looking to sell the venue ahead of retirement, previous owner, Richard Bowyer, was approached by The Bird In Hand’s manager, Stavros Nicolaides, who had successfully managed the popular local restaurant for four years, using his 10 years’ experience in the hospitality sector.

The £500k purchase was part-funded through Stavros’ own personal savings, but an additional £312k was needed to complete the deal. With confidence in hospitality low amongst many high street banks, despite positive conversations and Stavros’ considerable experience, the pair were unable to secure finance from their banks but were introduced to Bathgate by Richard’s bank, Handelsbanken.

Bathgate BDM’s Ian Adams and Chris McLoughlin visited the restaurant to meet Stavros and Richard to understand the business and learn more about first-time owner Stavros’ vision for its future. Immediately seeing the potential, they worked with NatWest to secure a £312k commercial mortgage for the business.

The Bird in Hand Chester — Credit – Kat Hannon

Stavros said:

“I had worked for Richard at The Bird in Hand for four years before he put the business up for sale. I saw the opportunity immediately and had a very simple vision; to make it a lovely place for people and families to come and visit, with delicious food, great drinks and wine, and really friendly service that everyone can enjoy.

“Initially being unable to secure finance was disheartening, but as soon as we met Bathgate, they reassured us that there were other ways. They immediately demonstrated understanding of our circumstance and the people involved, rather than just numbers on paper. They were really supportive and wanted to see our vision realised as we did and showed that they had faith in us.

“Not only did they manage to find a commercial lender, but they were also there to support throughout the 12-month purchasing process. Taking the leap to become a first-time business owner is a scary plunge into the unknown, but Bathgate shared their extensive connections to also help us navigate other non-finance manners related to the business, saving me so much time and effort to find the right people to help me with my business needs. Their knowledge, kindness and expertise will not be forgotten.”

Chris McLoughlin, from Bathgate Business Finance, said:

“We were immediately impressed by Stavros’ plans for the restaurant and extensive experience in the hospitality sector. He started work in a local restaurant at 15 and had two years’ experience as an accounts operator. He has also previously worked with Richard at other establishments managing the Bird In Hand over the last four, and had extensive understanding of the local area, the business, its staff and clientele, which we believed was a recipe for success.

“Right now, securing traditional finance for hospitality is challenging, but it can be done when working with a broker with the right knowledge and network who can advocate for a venture. Working with NatWest we ensured that Richard could hand over his business to a trusted pair of hands, that Stavros had the opportunity to become a business owner and realise his vision, and that Guilden Sutton had a fantastic, family-run business at the heart of its community. We wish Richard a happy retirement and we are excited to see what Stavros, his fiancée Isabelle and the team achieve.”

Now one of the top five restaurants in Chester, The Bird in Hand takes reservations from Wednesday to Sunday, serving outstanding home cooked food made with locally sourced produce. Stavros has a host of exciting future plans, including further internal and external building renovations, introducing lunchtime and breakfast menus at the weekend and organising small events such as live music and wine tasting.

Stavros added:

“I knew it was going to be extremely hard work transitioning into ownership, and putting in 70 hours a week consistently for the last few months has been a challenge. My fiancée Isabelle’s love, support and hard work has been instrumental through it all, and as we grow and continue to succeed then it will all be worth it.

“We are extremely lucky to have such wonderful guests, whether they are first time visitors or those that come in regularly, and I also know I can go to Bathgate for advice and support with our future plans. We’re excited for the future and all that will come with it so watch this space!”