Shawbrook Bank has supported Shepherd Cox Hotels (Wetherby) Ltd with their latest property acquisition, The Bridge Hotel, by delivering a £5m commercial mortgage facility. The funding will allow for the property to be expanded with the planned construction of 28 new rooms to cater for the high demand from visiting wedding guests and conference delegates.
The Bridge Hotel is a converted 17th century coaching house which provides a wide range of services including accommodation, fine dining, spa facilities as well as catering for events such as weddings and conferences. With the acquisition by Shepherd Cox, the planned investment means that the hotel will have the potential to offer 65 rooms.
Having known the management team at Shepherd Cox for several years, the regional Shawbrook team (based in Wetherby) understood the needs of the company, meaning they were able to deliver the significant quantum of funding needed in a tight timeframe of two weeks.
Legal advice was provided on the deal by Pinsent Mason.
Lee Bramzell, founder and managing director at Shepherd Cox Hotels (Wetherby) Ltd, says:
“Shawbrook were a natural first choice for us when we were looking to get a funding partner for this strategic acquisition. Having worked with Mark previously, we knew that their needs-first and flexible approach combined with their prior knowledge of our business would make for a smooth transaction. We look forward to developing the property and expanding its capabilities for the future.”
Mark Heyes, relationship director at Shawbrook Bank, says:
“We are delighted to have worked with the management team at Shepherd Cox. It’s a great opportunity for us to truly support the business and the journey they’re on and being able to help them acquire their twentieth hotel property. It’s a great example of the lasting relationships we have with our clients here at Shawbrook and we look forward to working with The Shepherd Cox Group on future projects.”