OakNorth Bank has provided a £9.8 million loan to boutique London hotel, Eccleston Square Hotel. The capital will be used to refinance existing debt and support the hotel’s future growth strategy.
Previously known as Elizabeth Hotel, the five-storey, grade-II listed site was converted from a B&B in 2010 and comprises of 39 double en-suite bedrooms, a 25-cover restaurant, a bar, and conference room.
What they said
Olivia Byrne, manager of the Eccleston Square Hotel, said: “We were highly impressed with OakNorth’s knowledge of London’s hotel market and the overall experience which similar to ours, is high-tech without losing the human touch.”
Hilton Foster, Director of Debt Finance at OakNorth Bank, said: “Olivia is an excellent hotelier, who has invested heavily in the hotel to ensure it always lives up to expectations. With the hotel located in prime central London, it lends itself well to the upscale hotel market, boosted further by a wide range of demand drivers and robust transport connectivity. The hotel is an excellent example of a well-run boutique offering and we’re delighted to be able to support its continued success.”