East Sussex entrepreneur Luca Venditto has secured a package in excess of £1 million to expand and develop his hospitality businesses in Bexhill.
The funding has enabled Mr Venditto to acquire a private members’ restaurant in the area. The restaurant, called Waterfront, was acquired with a £500,000 commercial mortgage loan from HSBC. This also allowed Mr Venditto to invest in refurbishing the restaurant, which has created 10 new jobs for the local economy.
HSBC also supported Mr Venditto’s ambitious career plans with a funding package of £558,800 to acquire part of another building in Bexhill, which now hosts Rocksalt-on-Sea, a bar brasserie, and Seaspray Rooms, a boutique guesthouse. The acquisition has also allowed Mr Venditto to extend his existing restaurant, Italian Way. The restaurants and guesthouse created further employment opportunities in Bexhill, with 10 new employees.
Victoria Mutter, HSBC’s area director in Gatwick and East Sussex, said: “Luca Venditto is a passionate, hardworking entrepreneur with an ambitious mind set, aspiring career plan and successful career history. It has been a pleasure supporting him with his current successes in Bexhill and we’re excited to see how each business grows over the coming years. He is a great example of how HSBC is dedicated to identifying and supporting local entrepreneurs as they play a vital role in society – creating jobs, driving economic growth and innovating new products and services.”
Mr Venditto added: “I am thrilled to have opened the new restaurants and guesthouse in Bexhill. We have had feedback from residents saying the facilities are exactly what Bexhill needed. I am currently working on an exciting new project and look forward to working with HSBC to progress this forward.”
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