10/1/2018 | Hotel Mortgages

Random Hall Hotel refinanced

The Random Hall Hotel in Slinfold, Horsham has successfully been refinanced with the help of specialist commercial finance broker, Christie Finance.

Random Hall Hotel is a long established Grade ll listed property comprising of 14 en suite bedrooms, function rooms, a bar, restaurant and two self-contained owner flats. Owners Kate and Richard Loftus recently bought out a long-standing business partner by attracting new investors Leo & Cornelia Soloman to the business.  Unfortunately, their incumbent lender of some 25+years are no longer supporting the hospitality sector so a refinance of existing debt was required.

As an established business with good operators behind the business, Christie Finance were able to facilitate a refinance of the existing debt and provide further funds for the planned refurbishment of the hotel.

Kate Loftus has led the refurbishment and upgrading of facilities at The Random Hall allowing the hotel to attract more function business and an expected increase in occupancy. There’s also scope to extend the letting accommodation with an additional six rooms in the coming year.

John Mitchell, Head of Business Mortgages at Christie Finance, worked with Kate and Richard on the refinancing of Random Hall Hotel. He comments “It has been a pleasure to work with Kate and Richard on this deal, they have a clear vision of how they can grow the business. I wish all four partners every success in developing and running Random Hall Hotel”.