A Loan of three quarters of a million pounds has finally been a approved to buy the Ramada Plaza Hotel in Southport.
£750,000 has been handed to Bliss Investment Partnership to help them complete the deal to buy the promenade based hotel in a takeover from Even Southport Ltd.
The money was put forward by specialist entrepreneur bank OakNorth, who help supply huge loans to business investors in order for them to complete big money deals.
The £75k debt finance deal will 000 to enable Bliss Investment Partners, to acquire the four-star hotel, Ramada Plaza Southport, from Even Southport Ltd.
Bliss Investment Partners is co-managed by Robert Agsteribbe, who was a minority shareholder in Even Southport Ltd, who have run the Ramada since its opening in 2008, and Daniel Broch, founder of Everyman Cinemas.
Given the hotel’s impressive track record and success to date, the new owners are backing the existing employee team lead by General Manager, Enda Rylands, together with Deputy Manager and Sales Office Manager, Lisa Little and Nicky Goodwin.
In addition to its 133 guest rooms, the hotel also has a restaurant, bar, gym, conference facilities for up to 300 guests, and underground car parking for 80 cars.
Commenting on the deal, Robert Agsteribbe and Daniel Broch, managing partners at Bliss Investment Partners said: “We’re hugely excited about this purchase – we love the business and particularly the great team of people.
“This acquisition locks in a great property with an established and highly effective management team which provides the perfect platform from which to grow the company across further locations in the UK.
“The team at OakNorth were incredibly supportive throughout the process, ensuring that we fully understood what information we needed to provide them with and what the next steps in the process were.
“It was a very different experience to what we’ve had with other banks – we genuinely felt that we had a partner in OakNorth and that the team were available to help any time day or night.”
Deepesh Thakrar, Debt Finance Director at OakNorth Bank, commented: “Since our launch in September 2015, we have provided debt finance for a number of hotel deals, including the development of a 200-bedroom aparthotel in Liverpool and the purchase of the Best Western Calcot Hotel in Reading.
“Robert and Daniel’s experience, coupled with the strong management team, and the hotel’s outstanding reputation, put it in a prime position for continued success in the future.
“With Royal Birkdale hosting the Open Golf Championship later this year, the hotel will remain a prime destination for tourists and professionals alike – we look forward to working with the team on future opportunities.”
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