Indie hospitality group snaps up flagship site

An independent East Midlands hospitality group has completed the purchase of its flagship site in Lincoln.

Established in 2009, Ever So Sensible Restaurants operates ten food-led hospitality venues across Lincolnshire, Nottinghamshire, Leicestershire and Derbyshire. Now, a £700,000 finance package from Lloyds Bank has enabled the group to purchase the freehold of one of its most popular venues, the Duke William Hotel in Lincoln’s Cathedral Quarter.

The Bailgate hotel employs 30 people and boasts nine ensuite rooms and an adjacent cottage.

The Duke William is the first freehold site purchased by Ever So Sensible, which is also eyeing new locations. The deal is expected to act as a template for future acquisitions of other buildings leased by the company.

Chris Bulaitis, managing director at Ever So Sensible Restaurants, said: “When we first took over the Duke William Hotel six years ago, the building was semi-derelict. With Lloyds Bank’s support, we are now the proud owners of this beautiful historic building, which we have completely refurbished and transformed into a high-end local destination, serving fantastic food and employing some of the best people in the industry.

“With our ownership of the building now secured, we’re looking forward to a busy summer at the Duke William, as well as looking into opportunities to expand our footprint, both locally and through the acquisition of further venues in the East Midlands.”

Nick Flanagan, relationship director, SME banking at Lloyds Bank, added: “Despite the challenges currently facing the hospitality industry, Ever So Sensible Restaurants is a perfect example of a resilient local business which is prospering. Its focus on sourcing locally, operating sustainably, and investing in its staff has helped the Duke William to thrive in the face of rising costs and staffing shortages. This latest finance package will also further secure the businesses’ future.

“We have been by the side of the group since it was established, and we look forward to supporting them further as they grow.”