OakNorth supports UK’s new hotel brand Bike and Boot
OakNorth backs UK’s new hotel brand Bike and Boot. OakNorth, one of the largest banks in the UK, will support the newly established UK hotel brand Bike and Boot. It will enable development of OakNorth Bike and Boot, which previously supported different real estate investments. OakNorth will first support Bike and Boot’s acquisition of a hotel in Yorkshire.
OakNorth and Bike and Boot buy 50-room second-class Mount Hotel in Cliff Brige. OakNorth and Bike and Boot will renovate the hotel. They will also transform the five-storey town house they bought.
The OakNorth and Bike and Boot redeveloped hotel will be add a 100-person bar and grill bike path, drying rooms for surfing clothes, dog washing facilities and a movie theater.
The hotel is on the seafront and within walking distance of Scarborough train station.
“This unique hotel concept is the brainchild of two experienced hoteliers who have worked together for several years,” said Deepesh Thakrar, senior director, debt finance at OakNorth.
“Both Simons have an extensive track record in developing and delivering for some of the UK’s respected hotels and leisure brands. And have successfully built a business that provides strategic management services to the hospitality industry, Helmsley Hospitality.
We look forward to watching the Bike and Boot brand develop and working with them on future sites.”
Sevdenur Demir / realestatecoulisse.com
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