Established racehorse business trotting off to new premises
PJ McBride, a family-run equestrian business is moving to Exeter House Stables, a Grade II listed stables in the centre of Newmarket. The purchase has been made possible by a six figure sum commercial mortgage from Santander Business Banking.
The property boasts a total of seventeen stables and is situated opposite one of the designated horse-walks, which cross the whole town of Newmarket, giving horses' right of way between the yards and the various gallops that surround the town, attracting up to two thousand horses each day.
Husband and wife team Phillip and Beverley McBride, have been in the business of training and selling racehorses for more than ten years, with more than twenty five years experience in the equestrian industry. Up until now, they have been trading from rented stables, but this move gives them the chance to have their own premises and invest in the future.
Phillip McBride said: "It's great to be moving into our own premises in the centre of Newmarket. We've been in and around the area for many years and I've been in the industry for most of my life, so it's exciting to move into more permanent premises. We were introduced to Santander by our broker, Derek Gardener at ASC Hertfordshire and we have been really pleased with the service received from Jamie Dalrymple, the Relationship Manager at Santander. He has really taken the time to understand our business and our plans for the future and we are delighted to move forward with the support of a bank like Santander.
Beverley McBride said: "We're really excited about the move - We're a real family business, with our daughter doing the bookkeeping and both our sons working in the yard in holidays and after school, so it's fantastic to be investing in the future for our family."
Jamie Dalrymple, Relationship Manager at Santander Business Banking, said: "I am delighted that Santander Business Banking has been able to support the purchase of Exeter House Stables. I have been very impressed with the attitude demonstrated by Phillip and Beverley and I am confident they will make a great success of an already well-established business. They know the business inside out and they have realistic plans for the future - this makes them an ideal customer of the bank.
"Santander Business Banking is committed to building strong relationships based on an understanding of businesses and their needs, providing solutions and services that fit those needs, and our agreement with Phillip and Beverley is an excellent example of this."
The purchase also included a three-storey family home which is on the site. The house needs work, but Phillip and Beverley plan to start work on the renovations this year and eventually move into the house and to be based at the stables full time.
For further information on the range of services available to businesses, business owners or finance directors, visit the Santander Business Banking website at santander.com/business.