New Asian-inspired venue opens following £200k funding deal
An Asian-inspired 350-seat venue in Liverpool city centre has opened following a £200,000 funding fillip.
West Kirby-based Bathgate Business Finance arranged a five-year asset finance deal, following a professional introduction, for the Movement Group venue, Zenn Liverpool, in the city’s Victoria Street.
Zenn Liverpool had already secured £2.5m of capital investment, including contributions from shareholding directors and trade sponsors including Heineken and Bacardi. The final £200,000 was required to ensure work was completed to deadline, allowing the venue to open on June 17.
Cat Roberts, group head of business development from Movement Group, said: “We faced a huge challenge with building supplies and project management for the opening of Zenn Liverpool in 2021 and in early 2022, with COVID-19 lockdowns and then subsequent materials shortages, which strained complex and intricate supply chains and caused problems in the project management time frame.
“Bathgate Business Finance was recommended to us by an associate. It has been a pleasure working with Paul and his team to find a finance solution that quickly met our business needs and allowed us to bring this fantastic new venue to Liverpool.”
Paul Trickett, BDM at Bathgate Business Finance, said: “Securing finance for hospitality venues, particularly new start-ups, in the current climate can be difficult, as currently traditional lenders have limited appetite or options for businesses in this sector.
“Projects also face project management challenges due to materials shortages and supply chain issues that can delay projects and stretch budgets.
“However, as our latest deal shows it is far from impossible. Zenn Liverpool is a fantastic addition to the city’s leisure and hospitality scene and we look forward to watching it go from strength to strength, with its unique proposition and the passionate and experienced team behind it.”
Zenn Liverpool says it is centred on its Asian-inspired menu, a slick selection of drinks, a stimulating soundtrack and sophisticated atmosphere, served up in a specially crafted social space.
The venue has already attracted the head chef from Australasia Manchester, and the team has travelled to key destinations around the world, taking inspiration from their favourite places and venues, to ensure that Liverpool will have its own similarly original destination.
The 350-seat venue, which has a total capacity of 500 across its various areas, boasts contemporary architecture, glass-fronted ground floor area and its rooftop bars and Zenn garden.
