We are buying the 81 bedroom Holiday Inn at Chester West by way of a share purchase. There are 22 years left on the lease, and we plan to negotiate an option to purchase the freehold in due course. The hotel currently comprises 81 bedrooms, a 220 capacity ballroom, 2 syndicate rooms, and lounge bar and restaurant with 80 covers. Current turnover is circa £2m. Trading profits after rent payment is in the region of £250k. |
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The hotel currently comprises 81 bedrooms, a 220 capacity ballroom, 2 syndicate rooms, and lounge bar and restaurant with 80 covers. Current turnover is circa £2m. Trading profits after rent payment is in the region of £250k.
Shepherd Cox will repay the loans on or before the expiration of the 12 month term via:
a) Refinance via high street bank or commercial loan provider
b) Introduction of capital from further investors
c) Introduction of director’s own capital