Derrybeg Guest House

If you are looking to purchase a business then we can help you find the best options that will meet your strategic needs and budget. If you have a business or part of a business that you are looking to sell, we can help you maximise the worth of your assets and optimise your returns.

With our Business Disposals and Commercial Agency teams working in tandem, we were able to undertake key negotiation, manage expectations and ensure clear communication of key issues at the point of transaction.

Approach

We approached this instruction as we do all other hospitality and leisure business which we sell by providing our clients with a thorough appraisal of their business, including marketing advice over several months before the instruction.

Once appointed, we carried out a thorough open marketing campaign including the use of sale particulars, our register of purchasers and online marketing at specialist websites such as Dalton Business, Businesses For Sale, Right Bi and more.

This approach led to numerous initial enquiries as well as 12 viewings, 715 emails issued and two offers received.

Key responsibilities were proactive responsive handling of the case with the client and all interested parties, as well as ensuring legal missives were completed within a reasonable time period and with several weeks prior to settlement.

Key Challenges

Unfortunately, COVID-19 commenced some three months after launching the business For Sale. Numerous lockdowns and restrictions meant that viewings were difficult to arrange and ability for market to view.

In addition, withdrawal of asset-based finance from mainstream lenders.

Results

Good communication, timely production and timely response to interested parties. Prompt following-up of viewing appointments.

Key Message

The Guest House has been sold within 2 years of marketing during COVID-19 which is within a reasonable expectation of price that was advised prior to knowledge of COVID-19 and the impact on the market.

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