CBRE loans £35m to Bricks Group to refinance Hilton Silverstone
The recently completed 197-bedroom Hilton Garden Inn Silverstone is located on the racing circuit’s Hamilton Straight
Real estate advisor CBRE has completed a £35m long-term loan to support Bricks Group’s “world’s first” Grand Prix start/finish line hotel, the Hilton Garden Inn Silverstone.
The capital, which was deployed on behalf of CBRE’s advised fund, is to refinance development loans for Bricks Group during a period of rapid growth for the unique asset.
The recently completed 197-bedroom Hilton Garden Inn Silverstone is located on the racing circuit’s Hamilton Straight, with many of its rooms having views of the start/finish line and pit lanes.
The venue also includes a rooftop bar, restaurant with trackside terrace, and a direct-access bridge to the Silverstone Wing – with 12,500 square metres of flexible meeting and conference space.
In addition, the property is designed to attract race fans drawn by year-round events including the British F1 Grand Prix, the MotoGP, and other events hosted at Silverstone including the British Touring Car Championship, VSCC Pomeroy Trophy and track days.
Bricks Group specialises in development, management and investment, currently operating across the hotel, purpose-built student accommodation, fitness, F&B, and co-living sectors.
Herbin Duffield, director of investment advisory lending at CBRE, said: “I’m really pleased to complete the deal. The loan delivers a good return and income, and we have been flexible in supporting Bricks with the refinancing of a real trophy asset that has a complex income stream.
“Together with our sector experts in the hotels team, we were able to understand the risks and trading projections quickly to make sound investment advice whilst completing the refinance in line with Bricks Group’s timescales.”
He added: “It is a great example of transitory lending we can offer from a range of capital sources in the CBRE Investment Advisory Lending team.”
Peter Prickett, CEO of Bricks Group, said: “The success of this great long-term partnership with CBRE is driven by our complementary skills and united vision to realise the huge potential of this amazing asset.
“We’re focused on further enhancing this multi-use event and hospitality destination, creating future revenue and generating capital value.”
