We have advised BH Group, led by entrepreneur James Houlston, on the £9.5m refinancing of The Swan Hotel, Newby Bridge.
The transaction involved the sale of other investments and injection of over £2m of new investment by The Swan’s majority owner BH Group into BH Hotels 4 Limited, which owns The Swan. It also involved the injection of further secured debt investment by Triodos Bank to replace the existing lending provided by Octopus and Fern Trading.
The Swan, located in the Lake District National Park, is renowned for its accommodation and spa facilities. Following a successful refurbishment and expansion in 2022, the new investments position the business with the resources to realise BH Group’s ambition to make The Swan the leading luxury resort in the Lake District.
Gateley Legal’s corporate team was led by partner David Armitage and supported by corporate solicitor Scott Cooper, banking partner Christopher Lister, and real estate partners James Sargent and Barbara Rollin.
David Armitage commented: “We are delighted to have supported BH Group in securing this significant deal. The Swan is a landmark property in the Lake District, and this refinancing will enable further enhancements to its already outstanding facilities, ensuring it continues to be a premier destination in Cumbria.”