ThinCats supports London pub group with £3.5m funding package
Inda Pubs Group, independent pub company based in West London, has been provided with £3.5m in funding to support the purchase of the freehold interest in one of their pubs by leading alternative finance provider to mid-sized SMEs, ThinCats.
Founded in 2012 by James Corbett, the Inda Pubs Group runs seven high end pubs in West London specialising in quality food and drink in residential suburbs: The Larrik in Marlebone, The Hillgate, Notting Hill Gate; The Mitre, Fulham; The Selkirk in Tooting; The Island, Kensal Rise; The Portman, which opened this week; and finally The Wilton Arms in Belgravia which is due to open mid-August.
The company ethos focuses on acquiring neighbourhood pubs with hidden character, and re-furbishing and restoring them to provide a gastro pub experience. The menus have a seasonal focus, serving predominantly British produce from local producers, alongside real ales and beers, an extensive cellar of wines and an increasing list of non-alcoholic drinks, beers and kombuchas.
The funding has allowed the company to purchase The Island pub which had been operating as a leasehold.
The deal was introduced to Dave Sherrington and the team at ThinCats by Steve Chester at Axis Commercial Finance, commercial finance brokerage based in Twickenham.
James Corbett, director, Inda Pubs Group: “We have big plans to evolve the business, to explore new neighbourhoods and new styles of operating to meet the growing London market, especially now that restrictions have been lifted. Having access to the right funding to enable these plans to come to fruition is imperative, and we appreciate the support from Axis and ThinCats in arranging this funding package.”
Steve Chester, Axis Commercial Finance: “It was a pleasure to work with James and his team and to provide a great solution to his funding requirements. Even presented with the challenging environment caused by COVID, ThinCats were able to put in place the finance to allow the freehold to be acquired and the business to continue to flourish. It’s an exciting time for Inda Pubs, they are a well-run & quality group and I’m sure we will see them grow further.”
Dave Sherrington, regional head of sales, London, ThinCats: “Inda Pubs are well run and popular community pubs with a focus on good food which is appreciated by their growing clientele. The management team are experienced, knowledgeable and passionate, and the plans they have for the company are based firmly on what they do best. The latest easing of restrictions puts them in an even better position to succeed.” Customers old and new will be returning in force now that they are open again.”
