UK: The three-star hotel will be upgraded to a four-star venue by US-based Chatham Park Development, and operated by Bespoke Hotels.
OakNorth Bank has provided a finance facility supporting the acquisition and redevelopment of the Grade II-listed property. It is located on the border of Gloucestershire and Worcestershire.
The hotel currently has 39 rooms, a variety of event spaces, and 19 acres of gardens, woodland and lake. As part of the redevelopment, five new rooms will be added along with extra event space.
Bespoke Hotels, the UK’s largest independent hotel group, has been appointed to operate Dumbleton Hall. It currently operates over 14,000 rooms worldwide which amounts to over 90 hotels, including franchises with Accor, DoubleTree and Mercure.
Chatham Park Development specialises in residential, mixed-use and hotel schemes. The company was advised on the transaction by David Grant of Axis Commercial Finance.
Paul Vezolles, founder and president of Chatham Park Development, said: “Dumbleton Hall has a unique and extensive history, so it is our privilege to be breathing new life into the estate in a way that preserves it’s historical significance whilst bringing it up to modern expectations. With every project we work on, we always look to create and deliver the most desirable outcome possible for all stakeholders – with our redevelopment of Dumbleton Hall being no exception to this rule. The fact that Marcus and Steve [at OakNorth] are locally-based meant they had a clear understanding of the region and in-depth knowledge of its hotel sector. We were also impressed by the pragmatic manner and speed in which the team operated which is not like anything we’ve experienced with other lenders.”
Marcus Hook and Steve Mitchell, directors of debt finance at OakNorth Bank, added: “With ongoing restrictions as a result of COVID-19, there is pent up demand in the UK for both staycations and weddings. This will continue well into next year as countries worldwide decide what to do in terms of COVID passports, quarantines, etc. Given its popular location for tourists, its four-star plus upgrade, additional rooms and events space, and the fact that it will be operated by a leading hotel group, means Dumbleton Hall is in a prime position to maximise on this trend. We very much look forward to watching the redevelopment take place and hope to work closely with Paul and the team again in the not too distant future.”
