Assetz Capital has provided a £2.3m commercial mortgage to Roseberry View Lodges, to refinance an existing development facility and fund five new lodges in North Yorkshire.
Previously, Assetz Capital provided Roseberry View with a £475,000 commercial mortgage in 2019 for the site and a £1.73m development loan to create the first 10 lodges and infrastructure.
This follows Assetz Capital’s move to strengthen its origination team with four new relationship directors, as it targets lending volumes of £1bn per annum.
Mark Standley, national commercial director at Assetz Capital, said: ‘We’re a relationship-based business so we are always excited to work with existing customers like Roseberry View.
“During what has been a testing period for the economy, it’s fantastic to see the lodges flourishing and we are proud to have supported that growth by providing fast, flexible finance.
“We will continue to support UK SMEs by delivering our ‘real world lending’ solutions at scale as we approach our target lending volumes of £1bn per annum.”
Andrew Platts, owner of Roseberry View Lodges, said: “We’re incredibly excited to launch five new lodges at our Great Ayton site.
“The new accommodations will give guests a luxury stay in a prime location and enable us to take advantage of the huge demand for staycations that we’ve experienced in the last 18 months.
“Working with Assetz Capital has been a pleasure, and they were the natural choice for our latest commercial mortgage.”