Leumi UK has provided a £20m loan to Starboard Hotels to refinance its Hampton by Hilton London Park Royal hotel, continuing its partnership with Starboard that began in 2017 with financing for a hotel portfolio.
Situated in the Park Royal area of north-west London, the hotel is a Grade-II listed building acquired by Starboard Hotels in partnership with Citrus Group in 2017 from Atlas Holdings for more than £6m.
Following a £26m-plus investment by Starboard, the hotel opened in late 2020 as the developer’s first London property.
Starboard entered into a franchise agreement with Hilton to operate the hotel under the Hampton brand, marking its debut Hilton franchise. This addition brought Starboard’s portfolio to 21 UK sites, with brands including Hilton, IHG, Wyndham and Accor.
Soraya Shamji, relationship director at Leumi UK, said: “This transaction highlights what differentiates us a lender, as we were able to deliver a tailored, bespoke facility in just a couple of months.”
Paul Callingham, managing director of Starboard Hotels, added: “Leumi UK’s flexible and relationship-driven approach is a key differentiator and was a crucial factor in our decision to proceed with this facility.”
Photo © Starboard Hotels
Send feedback to Shifali Gorka
Follow Estates Gazette
