Assetz Capital closes £2.3m commercial deal for Roseberry View Lodges

Assetz Capital has completed a £2.3m commercial mortgage to Roseberry View Lodges for the expansion of a luxury holiday site in Great Ayton, north Yorkshire.

The facility, agreed at 65% LTV and 7.04% per annum over a 60-month term — was used to refinance an existing £1.73m development loan provided by Assetz Capital in 2019, which enabled the company to create the first 10 lodges and infrastructure.

The £2.3m funding will also help the client build five new lodges with private hot tubs and parking.

All lodges are built around a private lake with additional facilities, including a play park for children, a playground for dogs and a barbeque area.

Mark Standley, national commercial director at Assetz Capital, said: “We’re a relationship-based business, so we are always excited to work with existing customers like Roseberry View. 

“During what has been a testing period for the economy, it’s fantastic to see the lodges flourishing and we are proud to have supported that growth by providing fast, flexible finance. 

“We will continue to support UK SMEs by delivering our ‘real world lending’ solutions at scale as we approach our target lending volumes of £1bn per annum.”

Andrew Platts, owner of Roseberry View Lodges, commented: “We’re incredibly excited to launch five new lodges at our Great Ayton site. 

“The new accommodations will give guests a luxury stay in a prime location and enable us to take advantage of the huge demand for staycations that we’ve experienced in the last 18 months. 

“Working with Assetz Capital has been a pleasure, and they were the natural choice for our latest commercial mortgage.”

Earlier this month, Assetz Capital strengthened its origination team with four new relationship directors as it targets lending volumes of £1bn per annum, and it is rapidly approaching £1.5bn lent to UK businesses to date.

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