SDKA checks-in to complete £774,000 loan for historic Yorkshire seafront hotel
SDKA has completed a £774,000 complex commercial loan in under two months to support a returning client’s below-market-value purchase of a historic seafront hotel in East Yorkshire.
The substantial six-storey, 1930 mixed-use property, which closed in early 2025, comprises a 44-bedroom hotel, commercial bars, restaurants and 15 residential apartments which include both long-term rental properties and holiday lets.
The client intends to reopen the hotel with a substantial staged refurbishment programme.
The 18-month facility was advanced at 90% on a purchase price of £860,000, with interest charged at 1.1% per month.
Despite the complexity of the transaction the lender progressed the case from initial enquiry to completion to meet the client’s stipulated timeframe.
Christopher Simpson, senior underwriter at SDKA, said: ““At SDKA we understand that no two lending cases are the same, and we’re prepared to look beyond our headline lending criteria to find solutions that work for our clients. Our lending criteria provides a framework, not a barrier to getting deals done.
“By taking a flexible, pragmatic approach we were able to structure a facility that met the client’s needs and deliver completion within their required timeframe. This deal is a great example of where we have turned a complex opportunity into a successful outcome.”