Tuesday, August 16, 2022

£13.8m funding deal for Leicester luxury aparthotel

Aimrok Holdings, the owner of prominent hotel, The Gresham, which is located in one of Leicester’s most iconic landmark buildings, has received £13.8m of new funding from Cynergy Bank.

The Gresham Aparthotel provides luxury accommodation in the historic heart of Leicester. The hotel opened in November 2021 following a £17 million refurbishment. The 121-bed Aparthotel also includes a restaurant and bar, gym, as well as 12,000 sq.ft. of conference facilities and state-of-the-art co-working spaces and four commercial units.

The finance provided by Cynergy Bank enables Aimrok to refinance its existing facilities following the completed development of the Gresham Aparthotel. The group was provided with a Turnkey Funding Solution following the completion of the development.

Mark Copson, partner at Aimrok Holdings and co-owner of The Gresham said: “It was a pleasure to work with Cynergy Bank. The team applied innovative and strategic thinking to find the right solution to meet our requirements. We look forward to building on this relationship and working with the team in the future.

Sat Shingadia, Relationship Director, Cynergy Bank commented, “It has been a pleasure working with Aimrok holdings, to complete the bank’s first hotel turnkey commercial transaction. Aimrok Holdings is a prosperous business and is run by an impressive management team and will no doubt grow from strength to strength.

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