Puma Property Finance provides development facility to fund £23m GDV 150-bed Hampton by Hilton hotel

Puma Property Finance has completed on a development facility to fund the development of a £23 million GDV 150-bed Hampton by Hilton hotel in High Wycombe. The six-storey building is scheduled to complete in April 2021 and will be a landmark feature in the town’s new £150 million Handy Cross Hub development.

Its prime location close to the M40 means the hotel will benefit from significant visibility from passing traffic whilst offering guests easy access to the range of amenities in this mixed-use development.

This is the latest Hampton by Hilton hotel to be funded by Puma Property Finance and follows on from a 240-bed development at Edinburgh Airport completed last year, and a 140-bed development in Ashford, announced in January this year.

Kevin Davidson, Managing Director at Puma Property Finance, commented:

We are delighted to provide funding for this primely-located hotel scheme to a highly experienced developer/operator at a time of huge uncertainty for the hotel sector. This latest deal reflects our commitment to backing experienced developers with well-located schemes across all property sectors. This was a great effort from the professional teams of all parties involved, with special thanks to Voltaire Financial for introducing this deal.

Voltaire Financial Co-founder Dorothée Dembiermont commented:

I have had the pleasure of representing the developer, Handy Cross DevCo and to close this deal during the lockdown period is testament to the professionalism of those involved on all sides. The combination of a highly experienced borrower, robust management company (Legacy Hotels & Resorts) and worldwide recognised brand as well as a strong location enabled the transaction to remain unchanged despite Covid-19. By the time the finished hotel opens for business we are confident trading conditions will be favourable again.

Voltaire is also pleased to complete another transaction with Kevin and his team at Puma with whom we have built a superb working relationship.

Puma Property Finance closed more than £200 million in loans during 2019 and continues to increase its lending activity in both deal volume and size. It delivers development loans from £5 million to £35 million to finance residential, commercial and specialist sector projects such as hotels, student accommodation and healthcare, including care homes and retirement living. The business offers three core loan products: stretch senior development loans; pre-development bridge finance for site acquisition; and post-development exit finance.

Get in touch

Puma Property Finance delivers development finance to professional developers throughout the UK and across a range of sectors. For more information on any of our lending products, please contact one of our dedicated professionals on 0207 647 8160 or enquiry@pumapropertyfinance.co.uk.