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Eccleston Square hotel in London has received a £9.8m loan from OakNorth Bank which will be used to refinance existing debt and support the hotels growth.
Previously known as Elizabeth Hotel, the five-storey, grade-II listed site was converted from a B&B in 2010, and is managed by Olivia Byrne.
The luxury boutique hotel has 39 double en-suite bedrooms, a 25-cover restaurant, a bar, and a conference room.
The hotel is located in Eccleston Square near Belgravia and Pimlico and is within walking distance of Victoria Station.
Olivia Byrne, manager of the Eccleston Square hotel, said: “Since launch, Eccleston Square Hotel has prided itself on offering a friendly and personalised experience for all its guests. Our hotel, situated on a picturesque Westminster residential square, is convenient for numerous central London transport links, tourist attractions, shops, theatres, as well as business meetings.
“We continue to be recognised as one of the best boutique hotels in London, as each detail in our family-run property has been carefully designed with wellbeing and comfort in mind. We were highly impressed with OakNorth’s knowledge of London’s hotel market and the overall experience which, similar to ours, is high-tech without losing the human touch.”
Hilton Foster, director of debt finance at OakNorth Bank, added: “Olivia is an excellent hotelier, who has invested heavily in the hotel to ensure it always lives up to expectations.
“With the hotel located in prime central London, it lends itself well to the upscale hotel market, boosted further by a wide range of demand drivers and robust transport connectivity. The hotel is an excellent example of a well-run boutique offering and we’re delighted to be able to support its continued success.”
