Friday, 22 June 2007

Making an offer

It suddenly dawns on me that I might need to get some finance if I an going to seriously consider the purchase of the hotel. I find a company who specialise in commercial mortgages and they tell me that they aren't worried that the place has been empty for a couple of years or that I am unable to produce any balance sheets (since none exist). They don't need me to provide evidence of my financial standing and they don't even require a business plan from me. In conclusion, they will be happy to loan me the money as long as I don't mind paying an extortionate interest rate. I contact Fleurets and make an offer.

Thursday, 21 June 2007

Prospective buyers

Fleurets are a bit concerned that I should make an offer without having seen the place so now it is my turn to go and have a look at the hotel. They are running one of their 'open days' so I am not the only visitor although the place is hardly heaving with prospective buyers. On this occassion, I am joined by a couple who already own "three sea front hotels in Brighton" and have made their fame and fortune from hen and stag nights. Somehow, I think that Eastbourne may not be ready for such excitement - my own view of the hotel's future is a long way away from this!