600600p846EDNmainWreahead-Hall-Hotel-mortgage-case-study

Hotel Finance Case Study – Wrea Head Hall

An elegant Yorkshire hotel set in acres of landscaped grounds, in the village of Scalby on the edge of the North York Moors National Park. This stunning Gothic mansion with uninterrupted views across the Yorkshire countryside is arguably the best of all the Scarborough Hotels and just a short drive from the Yorkshire Heritage coast.

The Objective

We were approached by this “new to trade” hotel operator, who was seeking to raise hotel finance to refurbish the interiors to contemporary standards and offer fine dining. to assist with the purchase and to maintain and develop the hotel’s traditional and historic connections.

The Solution

An initial meeting with Stewart Hindley & Partners helped the operator to gain a real understanding of the different hotel loan and hotel finance options which would be available to them, taking into account that they were new to the trade. Stewart Hindley & Partners are able to provide un-paralleled access to prime and specialist lenders throughout the UK which ensured that the owners of Wrea Head Hall were able to select exactly the right funding solution to meet their particular needs.

The Result

Stewart Hindley & Partners put together an application for Wrea Head Hall, complete with a business and marketing plan which included compilation of revenue and cash flow projections. A decision in-principle loan offer, subject to valuation, was secured within 72 hours from receipt of the application which meant that Wrea Head Hall were able to start planning their refurbishment works prior to taking on the business.

Wrea Head Hall is now home to one of the best restaurants in Scarborough “1881” serving delicious contemporary British cuisine in classic surroundings. Named after the date the house was built, the restaurant oozes class with gold glistening from the hand-blocked wallpaper and antique mirrors and beautiful gilt wall lights set above polished oak panelling. The refurbishments also included a classically decorated private dining room, complete with crystal chandelier and a bar which is a mix of classic and contemporary design complete with original oak panelling, original sculptures and works of art.

Comments

When deciding to embark on a major change in business we felt that trying to take on the sourcing of financial support ourselves, with the many other things that needed our attention to bring this project to life, was not the best use of our time; and we were recommended to Stewart Hindley. We found that Chris had just the right mix of business and financial experience to allow us to discuss our plans with him fully, before finalising our requirements. We were very happy with the service we received and would recommend Stewart Hindley to anyone needing support for a major project.

Gerry Aburrow, Proprietor of Wrea Head Hall