Assetz Capital, a provider of property-secured finance specializing in commercial mortgages and development finance, has successfully structured a £9.95m facility for VOCO Leicester Hotel financed with Atom Bank.
Last year, hotel management company Kew Green Hotels announced their plan “to reflag two existing properties in Leicester and Manchester under IHG’s VOCO brand.”
The group acquired management of Hotel Brooklyn Leicester and Hotel Brooklyn Manchester and has “signed a franchise agreement with IHG to rebrand them as VOCO properties during 2024.”
Andrew Fraser, Chief commercial officer at Assetz Capital said that Assetz Capital and Atom bank have now completed a series of deals including office investments, leisure assets and now a branded hotel chain.
“The transaction completed in less than 12 weeks from initial discussion. We look forward to continuing to work further with Atom bank in the real estate space providing loans up to £10m.”
