Boutique hotel group Firmdale could be looking to expand its offering at the pioneering Ham Yard boutique in London, following a refinance deal at the property that included a £120m loan.
The brand, which consists of a total of 11 hotels in total in the portfolio, has signed up for a seven-year, £120m loan from Hermes Investment Management to refinance its 91-bedroom Ham Yard hotel in Soho.
The iconic property, owned by Tim and Kit Kemp, could now undergo a series of expansions and developments as a result of the loan, which has enjoyed three years of success since it opened it 2014.
Firmdale first acquired the site for Ham Yard for under £30m in 2009, before transforming the derelict site into the £90m boutique hotel.
Vincent Nobel, head of real estate debt at Hermes, said: “Providing funding to help support Firmdale’s expansion following the success of Ham Yard Hotel, appeals to our investment strategy of delivering holistic returns.
“The hotel is a great destination created out of a previously disused part of central London. Firmdale’s track record as a best in class manager of boutique hotels gives us great confidence in its ability to manage this asset, while continuing to grow the group.”
Firmdale was advised by JLL.