Historic Bath Hotel And Restaurant In Major Refinance Deal

1/5/09

The owners of a prestigious boutique hotel and restaurant in the centre of Bath have achieved the successful refinancing of their business in the toughest economic climate since World War Two.

L&H Hotels, owners of The Queensberry Hotel and Olive Tree Restaurant in Russel Street, Lower Lansdown, have secured funding from Clydesdale Bank for ongoing refurbishment work.
The owners, husband and wife team Laurence and Helen Beere, were advised and assisted by Withy King Solicitors which has offices in Green Park and Queen Square.  

Katharine Mortimer, a partner in the corporate services team based at Withy King’s Green Park office, explained: “This was an extremely complex deal which involved interest swap arrangements and new loan agreements designed to minimise the cost to L&H Hotels. Clydesdale took a refreshing approach to the whole transaction and examined the business on its own merits. In today’s tough economic climate, hotels are often lumped in with the property sector which banks don’t want to touch with a barge pole. Clydesdale recognised L&H Hotels as the highly successful business that it is and saw its obvious potential for further growth and development, and agreed to invest in its future.”

The Queensberry Hotel is a luxury contemporary hotel situated in the heart of Bath, comprising four elegant Georgian townhouses built by architect John Wood in 1771 for the 3rd Marquess of Queensberry, who lived in one. Each of the 29 bedrooms is individually decorated, maximising its character and providing an opulently comfortable experience for both business guests and tourists alike. Owners Laurence and Helen Beere are extremely dedicated to an ongoing development programme within the privately-owned hotel and are currently executing exciting plans for a new stylish in-house bar.

The renowned Olive Tree Restaurant, situated within the Hotel, provides the finest quality, contemporary British fare sourced from local farms and suppliers. A new head chef, Nick Brodie, has recently been appointed and the Queensberry team has also recently contracted Absolute Design to rework its branding and corporate communications mix.