HSBC financial package allows Scottish business to purchase Glasgow site

The deal has enabled Aseni to purchase the site on the city’s Trongate, having previously rented the property since 2010.

The acquisition is in Glasgow’s popular hospitality district and has improved Boteco’s balance sheet and increased its net worth, allowing Arseni the flexibility to upgrade and expand the business in the future.

Boteco, which translates to bar in Portuguese, has a base in both Edinburgh and Glasgow, and Aseni owns a third bar, Mango, also in Glasgow.

The businesses employ sixty members of staff across the three venues, including a full time marketing manager, a direct result of the Boteco Glasgow site purchase.

Originally from Italy, Aseni launched Boteco in Glasgow, with the vision to create an open and friendly atmosphere that celebrated multi-culturalism.

Susan Rowand, HSBC head of business banking in Scotland, said: “It’s brilliant to see a small business go from strength to strength. Boteco do Brasil has been with HSBC throughout their entire journey, including the opening of their Edinburgh venue in 2013, and we are thrilled to be part of their latest chapter, purchasing their longstanding Glasgow site.”

The finance was allocated from HSBC’s national £10 billion SME fund to actively support UK SMEs – £500 million of the fund is specifically designated to support firms in Scotland.

Mr Aseni explained: “We’ve been with HSBC since 2010, and have always worked together to find a solution to our business goals. Purchasing the Glasgow venue, which we’d been renting for the past seven years, has always been a long term goal and cements our place in the Glasgow food and drink landscape. We see an exciting future ahead, and thank HSBC for their continuous support.”

Aseni is now considering further expansion plans, including potential to open a third Boteco do Brasil, in the north of England.