Roseberry View Lodges secures £2.3m commercial mortgage from Assetz Capital
Assetz Capital has provided a £2.3m commercial mortgage to Roseberry View Lodges, enabling the luxury holiday site to refinance an existing development facility and fund five new lodges in North Yorkshire.
The loan follows 18 months of increased demand for UK staycations, with many of Roseberry View’s existing ten lodges booked solid far ahead for weekends and holiday periods.
The operator will capitalise on this demand by using the funding to build five new lodges with private hot tubs and parking at its Great Ayton site, all built around a private lake with facilities that include a play park for children, a playground for dogs and a barbeque area.
In 2019, Assetz Capital provided Roseberry View with a £475,000 commercial mortgage for the site and a £1.73 development loan to create the first ten lodges and infrastructure.The specialist lender aims to provide a complete borrower/broker solution when it comes to property matters, and so were delighted to assist with refinance to term along with funding the next five lodges to help meet the strong demand.
The latest commercial mortgage for Roseberry View follows a period of significant momentum for Assetz Capital. Earlier this month, it announced that it had strengthened its origination team with four new relationship directors as it targets lending volumes of £1bn per annum, and it is rapidly approaching £1.5bn lent to UK businesses to date.
Mark Standley, national commercial director at Assetz Capital, said: ‘We’re a relationship-based business so we are always excited to work with existing customers like Roseberry View. During what has been a testing period for the economy, it’s fantastic to see the lodges flourishing and we are proud to have supported that growth by providing fast, flexible finance. We will continue to support UK SMEs by delivering our ‘real world lending’ solutions at scale as we approach our target lending volumes of £1bn per annum.’
Andrew Platts, owner of Roseberry View Lodges, said: “We’re incredibly excited to launch five new lodges at our Great Ayton site. The new accommodations will give guests a luxury stay in a prime location and enable us to take advantage of the huge demand for staycations that we’ve experienced in the last 18 months. Working with Assetz Capital has been a pleasure, and they were the natural choice for our latest commercial mortgage.”