Lakeland restaurant set for refurb after acquisition

SUTHERLANDS restaurant in Bowness-on-Windermere in the Lake District has been bought by a company aiming to turn it into a cutting edge free-of-tie gastro pub.

M&M Bowness led by hotelier and restauranteur Colin Monk has bought the business which will serve locally brewed real ales and high end pub food.

The acquisition was part funded by a £150,000 finance package from Santander Corporate & commercial with a total commercial investment of about £300,000.

Monk is a committee member of the Lakes Hospitality Association and is also on the commercial members committe for Cumbria tourism. He also runs other local businesses including The Howbeck Retreat and Caffe Riva.

He now plans to carry out a full refurbishment of Sutherlands later in the year before formal relaunch in spring 2016.

Monk said: “We have enjoyed a successful relationship with Santander Corporate & Commercial over many years and have come to value their advice and expertise with regards to our business plans. The acquisition of the lease of Sutherlands is an exciting prospect for us as we continue to expand in the region.”

Richard Shuter, relationship director, Santander Corporate & Commercial, said: “Colin’s ability to enhance his businesses by bringing the buildings back to life and creating employment opportunities is very impressive.

Law firm The Endeavour Partnership acted for both the bank and M&M in the deal.