Cynergy Bank provided £8.55 million in new loans for the two companies (£5.55m for Old Amersham Hotels and £3.00m for Redesdale Holdings). Both loans enabled the businesses to refinance existing bank debt and release part of the shareholder loans. The loans were provided with repayments modelled over a 25-year term.
Old Amersham Hotels has refinanced the debt on The Crown, Kings Arms and Kings Chapel – all of which are in Old Amersham. Redesdale Holdings has refinanced the debt on Redesdale Arms and Number Four at Stow, both of which are in the Cotswolds.
Sean Ludden, Director – Valuations at Christie & Co who led the project comments, “Christie & Co was delighted to be appointed by Steve Crosswell of Cynergy Bank to provide valuations of each of the respective businesses. Working with my colleague, Helena Gleeson, Associate Director, we were able to inspect the properties and turn our work around in a speedy fashion, enabling the bank to draw down the loans in accordance with the borrowers refinancing needs and preferred timescales.”
Helena Gleeson, Associate Director, Valuations at Christie & Co adds, “It was a pleasure to work with these two companies whose respective management teams were impressive in their strategy and helpful at every stage of the valuation process. We wish them every success in the future.”
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Head of Corporate Communications at Christie & Co
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