Christie tinkers to turn tailor into restaurateur

30th October 2009, 12:02pm

Acting on behalf of private owners, Christie + Co has sold the freehold interest of Enzo’s Wine Bar & Brasseria in Woking, Surrey, to first-time buyer, a Mr Vantu Tran, a tailor in London’s West End, in a deal financed through Christie Finance.

Situated in a prominent position in Woking town centre, Enzo's comprises a 32-cover ground floor wine bar, a 22-cover first floor restaurant, and a 13-cover first floor terrace. The property also features a three-bedroom owner's/staff flat, which is located on the second and third floors.

Previously operated by owners of 11 years, who have now retired, the Italian restaurant and bar, which was acquired for an undisclosed sum off an asking price of £595,000, has built up an established local following.

Christie Finance was able to secure Mr Tran, who makes waistcoats at his wife's tailors in Jermyn St, a significant percentage of the overall funding needed for the deal from a leading international bank.

The company also introduced him to a solicitor and was able to sort out his business and life insurance. Despite being a first-time buyers with no experience in the restaurant/bar sector, a deal for the business was completed in just six weeks.

Chris Field, Finance Consultant at Christie Finance, said: "Despite Mr Tran's inexperience we were able to secure a significant amount of investment toward the acquisition of his first restaurant due to a strong working relationship with a commercial bank.

"We also helped him with a solicitor and insurance advice. We are delighted to have helped him acquire his first restaurant and wish him all the best with the business going forward."