Cynergy Bank & Oakman Inns Strengthen Partnership with £11M Refinance Deal
Cynergy Bank and Oakman Inns & Restaurants Limited have strengthened their partnership with a significant refinance deal. The transaction, concluded with delight by both parties, involves two historic properties: The White Hart in Ampthill, Bedfordshire, and The Royal Foresters in Ascot, Berkshire.
The refinance deal sees Cynergy Bank provide £11 million in newly negotiated loans, with £3.172 million for The White Hart and £7.809 million for The Royal Foresters. Both loans have an initial 12-month interest-only period, followed by repayments over a 24-year term. This arrangement significantly reduces interest charges for Oakman Inns.
The White Hart, a historic Grade II listed building, features a 1646 wall mural and a 1930s dining room. The Royal Foresters, also rich in history, has been refurbished and now boasts 24 guest rooms. Steven Kenee, Chief Investment Officer of Oakman Inns, praised the refinance deal and Cynergy Bank's team for their support. Mark Dearman, Director of Healthcare & Leisure at Cynergy Bank, looks forward to developing the relationship with Oakman Inns further.
Cynergy Bank's £11 million refinance deal with Oakman Inns benefits both parties. It allows Oakman Inns to reduce interest charges, while Cynergy Bank strengthens its relationship with the restaurant group. The historic properties, The White Hart and The Royal Foresters, continue to be valued assets in their respective communities.
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