Funding / Real Estate
INVESTING Individual Investor Financial Adviser Institutional Investor FUNDING Entrepreneur Real Estate
Reading time: 1 min

Octopus Property provides a £5.0 million loan for hotel acquisition

18 Dec 2017 By Octopus Real Estate

We provided Bowling Green Asset Management with a £5.0 million loan for the acquisition of the Holiday Inn Stonehenge, in Wiltshire. Completed within four days, the deal demonstrates the ongoing appetite from borrowers for the type of swiftly executed flexible financing that we’re able to provide.   

The 103-bed fully serviced, purpose built hotel benefits from further planning consents for an additional 47 bedrooms and a stand-alone restaurant on the wider 2.5 acre site. The 12 month multi phased facility includes a pre-approved further advance and represented the borrower’s first use of a short term loan facility from a specialist property lender. 

Located in the heart of Wiltshire, the hotel benefits from its close proximity to Stonehenge, a world famous prehistoric monument which attracts over one million visitors annually. The hotel has a wide range of amenities including modern meeting rooms, an outdoor terrace area, on-site restaurant, air-conditioned rooms and free Wi-Fi.    

The loan follows on from our record £80 million of new lending originated during November, as we continue to attract both new and existing borrowers to our growing Lifecycle Lending range of commercial, development and residential products.

Jamie Levy & Nicholas Rubin, Directors of Bowling Green Asset Management said:

 “We are delighted to announce our second branded hotel acquisition of 2017, the 103 bedroom Holiday Inn Stonehenge, for a total SPA consideration of £12.5 million, which was completed with funding from Octopus Property. The SPA price equates to an attractive net initial yield of 9.25% and is well aligned with our ongoing acquisition strategy.”

Related articles

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate
News
12 Jul 2022

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate

Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, today announces it is making a £200m equity investment to fund the development and operation of around 10 new retirement communities across the country. The Fund, Senior Living Investment Partners, is a joint venture between PIC and leading specialist real estate lender and investor, Octopus Real Estate
Our new partnership with Homes England, Greener Homes Alliance
News
21 Oct 2021

Our new partnership with Homes England, Greener Homes Alliance

Octopus Real Estate have partnered with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance. The new Alliance commits £175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
Ground-breaking Ceremony at Brendoncare St Giles View
News
1 Jul 2021

Ground-breaking Ceremony at Brendoncare St Giles View

Benjamin Davis & Michael Toft from the Octopus team recently attended the ground-breaking ceremony to mark the new care home construction of Bredoncare St Giles View in Winchester. It has been custom designed by our healthcare development team for The Brendoncare Foundation who will lease and operate the new home.
Share