Case Study

Just a splash in the ocean for Harbour View Fisheries

Overlooking Collywell Bay, in the little town of Seaton Sluice (just outside Newcastle, for the uninitiated), there is a lovely restaurant called Harbour View Fisheries.
Owned by husband and wife duo Lakhver and Harjit Gill, the restaurant has been established for over 13 years, although the couple have had over 30 years experience in the trade. The restaurant itself seats 48 inside, with plenty of outdoor seats, and caters for takeaways also. And in case dinner leaves you still a little hungry, there is an ice cream parlour nextdoor also owned by Lakhver.
A few months back the Gills realised they needed to upgrade their ageing catering equipment. Popular with locals and tourists alike for their fish and chips, the couple realised that upgrading would mean a quicker turnover for their in-house and takeaway customers.
They chose to upgrade to the OMEGA range of equipment, with high-efficiency 7 pans and 2 chip boxes, all financed through Johnson Reed. The deal we were able to arrange was a simple one, with no deposit and a 5 year term. We were so happy with the opportunity that we decided to finance with our own house funds, rather than sourcing external funds.
Lakhver said about the deal:

With the new efficiencies from the range itself and tax savings the new Omega will nearly pay for itself.” Johnson Reed delivered great service, were simple to deal with, and most importantly delivered a fast turn around and no hassles like the bank often propose.
Lakhver Gill

Mark commented:

It’s a while since I have seen a range that big, we took time to visit the shop so only needed to request basic financial information. I underwrote using common sense and I can clearly see the potential, the credit decision was straight forward once we understood the business.
Mark Johnson, Johnson Reed