101832 - First charge commercial loan against a hotel - Kenilworth
TAB has completed a £5.5m first charge commercial loan secured against a Holiday Inn hotel in Kenilworth.
The property is located in the centre of Kenilworth, and comprises a four star hotel with 115 guestrooms and facilities. The borrower purchased the property in 2017 and has since refurbished 80 bedrooms and the reception as well as the communal areas to include two new restaurants.
The first charge commercial loan, secured against the hotel, is intended by the client to refinance existing debt. Instead of retaining the first three months of interest, TAB retained the interest for the last three months.
This was our second deal in as many months for Brotherton Real Estate. Their attention to detail and knowledge of the deal and their clients is second to none. Working with Rob was an absolute pleasure, as always, and we are looking forward to continuing and growing the relationship. Nick Russell, sales director