11/2/2016 | Hotel Mortgages

The Old Lodge Hotel in new hands

Christie Finance, the specialist commercial mortgage broker, has recently assisted experienced property entrepreneurs with raising finance to purchase The Old Lodge Hotel in North Yorkshire.

The stunning Tudor Mansion Hotel is set within four acres of attractive grounds and is very popular for weddings. The previous owners had run the hotel for a number of years but decided to sell in order to focus on their other businesses.

The Hotel also boasts a popular restaurant and separate ‘The Old Lodgings’, which has recently been refurbished and provides a further 8 letting bedrooms in what was once a public house.

Our clients, husband and wife team Ajay Abhaya Kumar and Anupama Banerji, were looking for help to arrange funding to purchase their first hotel in the UK. Ajay is a qualified Accountant and Entrepreneur with Anupama having a strong background in property in the UK, USA and India.

The business was sold through Christie & Co and Chris Field, Director at Christie Finance supported the clients with finding the right funding to meet their requirements. Even though the clients have substantial property holdings both in the UK and internationally, they valued the expertise Christie Finance have in the sector, being first time hotel buyers.

Commenting on the deal, Chris said, “I am delighted to have helped Ajay and Anupama with sourcing the right facility to acquire their latest business. I know exciting times lay ahead for The Old Lodge with our clients looking at refurbishing and expanding the wedding facilities of the business, which I’m sure will bring the business continued growth and success.”

New owner, Ajay said, “Chris’ attention to detail was one of the most important factors that made him stand out. Never coming back for additional information, a clear sign of an excellent broker, who had thought of all the possible requirements and requests from the very start. This alongside the great interest rate he secured for us guarantees we will return to Chris for our future commercial funding needs.”