Bowland Inns & Hotels has secured a £25m loan from OakNorth to fuel the pub and hotel brand’s upcoming growth projects.
The pub and hotel operator consists of two sub-brands, James’ Places and Dream Venues Collection, operating 11 venues across the Ribble Valley, Lune Valley, Yorkshire Dales and the South Lakes.
The loan will be used to refinance Bowland’s existing portfolio of properties and complete both the acquisition and refurbishment of one new property, Wennington Hall near Lancaster.
Headquartered in Clitheroe, Lancashire, the company has historically focused on a “buy and build” strategy.
James Warburton, Owner of Bowland Inns & Hotels said that since starting the business in 1996, the company he has “always had an eye on growth.”
”As the business has grown, ‘I’ became a ‘we’, and the appetite for growth has got stronger and stronger.
”Finding the right funding partner for each stage of our growth has been one of the biggest challenges we have had to face. Finding a funding partner that wants to go on the journey with you, that’s more than key, that’s vital”, he adds.
“We have been talking to OakNorth for a number of years, we found them interesting, different, and genuinely unlike any of the other lenders we have previously spoken to.
”We found them to be flexible and fully transparent and their unique knowledge and experience of the region’s hotel and wedding venue market was a key factor in getting the transaction over the line so quickly.”
Stewart Haworth, Director of Debt Finance at OakNorth, added, “It is testament to James’ leadership that Bowland Inns & Hotels has been able to build such a positive reputation for offering luxury hotels and wedding venues across large areas of the North West.
“At OakNorth, we thrive on supporting businesses such as James’ and given the nature of wedding income remains robust throughout the region, we expect these new sites to be an enormous success.”
