Milton Keynes Hotel La Tour secures £22m funding

The development of the new Milton Keynes-based Hotel La Tour has secured £22m of funding.

The 261-bedroom hotel, which is set to become one of the tallest buildings in Milton Keynes, comprises a rooftop bar and restaurant, 10 conference rooms, holding up to 300 delegates and a gym.

Planning permission was granted for the build in 2018 to convert the former coach car park into a 14-storey hotel.

The Hotel La Tour team was advised by Shoomiths banking partner Liz Sweeney on the development finance deal with associate Chantelle Dabek, as well as real estate partner James Needham and solicitor Iyanu Onalaja on the hotel site’s leasehold.

Sweeney said: “We were pleased to deliver this work for Hotel La Tour in around six weeks, compared to up to around 12 weeks typically for this type of transaction in the legal services industry.” 

Managing director of Hotel La Tour, Mark Stuart, added: “It has been a pleasure to work with Shoosmiths on the legal side of both development financing and the site’s leasehold as we progress our exciting new landmark hotel project.”

Hotel La Tour is due to open its doors in 2022.

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