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Oakman Inns Secures Favorable Refinancing Deal for Historic Properties

Oakman Inns saves on interest charges with a new deal on two of its historic properties. The refinancing allows the company to maintain its valuable assets.

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1 min read
In this image it seems like a store in the middle. In the store there are few people who are...
In this image it seems like a store in the middle. In the store there are few people who are standing on the floor. Beside them there are barrels in which there are some things. At the top there is a parrot. At the top there is ceiling with the lights. At the bottom there are two barrels kept in front of the store. At the top of the image there are three red color lights. On the left side there is a person walking on the floor. To the wall there are two stickers.

Oakman Inns Secures Favorable Refinancing Deal for Historic Properties

Oakman Inns & Restaurants Limited has successfully refinanced the debt on two of its historic properties, The White Hart in Ampthill and The Royal Foresters in Ascot. The deal, facilitated by Cynergy Bank, has significantly reduced interest charges.

The White Hart, a Grade II listed building, boasts a 17th-century wall mural and a 1930s dining room. Meanwhile, The Royal Foresters in Ascot has been beautifully refurbished, now featuring 24 guest rooms, each with bespoke, contemporary interiors.

The refinancing deal saw Cynergy Bank provide circa £11 million in newly negotiated loans for the two properties. The loans come with an initial 12-month interest only period, followed by repayments modelled over a 24-year term. Steven Kenee, Chief Investment Officer of Oakman Inns & Restaurants, commented on the successful refinance deal.

The refinance deal has allowed Oakman Inns & Restaurants to secure more favourable terms, reducing interest charges. Both properties, with their unique histories and modernised interiors, continue to be valuable assets for the company.

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