Hampton by Hilton – High Wycombe Secures £13m Refinancing Deal
Main Photo: Hampton by Hilton
Date: November 2021
Name: Hampton by Hilton – High Wycombe
Location: High Wycombe, Buckinghamshire, England, UK
Number of Keys: 150
Finance: Leumi UK
Owner: Handy Cross Dev Co
The London-based subsidiary of Israeli bank Leumi has agreed a £13.2m, five-year facility with Handy Cross Dev Co to refinance the 150-bed Hampton by Hilton – High Wycombe.
The newly developed, purpose-built hotel opened in June 2021 and is situated outside High Wycombe in Buckinghamshire.
It features 150 beds over five floors and is situated within the wider Handy Cross Hub development, which currently contains a Waitrose supermarket, a leisure centre, a day nursery and is soon to welcome a new Porsche and Bentley dealership.
Handy Cross Dev Co Ltd is a joint venture majority owned by the Jaffer family, and the management company Legacy Hotels & Resorts who manage the hotel.
Leumi UK said, “the strong initial performance of this particular hotel is a great example of this fact. Moreover, Leumi UK’s relationship-driven approach to deal-making and detailed knowledge of the hotel sector were instrumental in agreeing the deal and is testament to the dedicated work of the hotel finance team.”
Haider Jaffer at Handy Cross Dev Co said: “We are thrilled to have agreed this refinancing deal with Leumi UK, which shares our conviction that the Hampton by Hilton hotel outside High Wycombe will continue to perform strongly in a quickly recovering market.
“Our lean rooms-led operating model has proven a success since the hotel’s opening in June, and we’re confident this performance will only improve.”
Addleshaw Goddard acted as legal advisors to Leumi UK, and Colliers provided valuation advice to the bank.
Finance: £13.2m
THPT Comment: Newly constructed, quality branded hotels are well positioned to take full advantage of a resurgent hotel market. Bank Leumi once again lending to hoteliers…making a name for themselves in the sector.
First Seen: HotelOwner.co.uk
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