Hoteliers secure £2.8m loan to expand Grade-II listed hotel

The Cliff Bridge Terrace property

A Grade-II listed hotel in Scarborough is set to be converted and expanded with the support of a £2.8m loan from OakNorth.

Hoteliers Simon Rhatigan and Simon Kershaw recently acquired the 50-bedroom Mount Hotel in Cliff Bridge Terrace to launch their new new boutique hotel brand, Bike and Boot Inns.

The duo will use the loan to increase the number of rooms at the hotel to 59 by converting an adjacent five-storey townhouse which is also being purchased.

In addition to the new 100-cover bar and grill restaurant that will be opened, the new Bike and Boot hotel will also offer several facilities, including: secure bicycle storage facilities, walking and surfing drying rooms, dog-washing facilities, a retreat lounge with complimentary hot drinks, and an in-house cinema.

The hotel is located next to the sea, with 31 of the 59 rooms having sea views, and within walking distance from the city centre and Scarborough train station.

Bike and Boot Inns founders, Rhatigan and Kershaw, said: “We are very excited to be launching this new hotel concept and feel this beautiful site in Scarborough is the ideal location to get started.

“The town is a well-established and historic seaside resort offering a range of sites, including the ruins of an 11th century castle and a large harbour which has undergone major regeneration in recent years. Our hope is that Bike and Boot will offer a unique escape for not only tourists but also for locals who might wish to visit the restaurant or cinema.”

Deepesh Thakrar, senior director, debt finance at OakNorth, added: “This unique hotel concept is the brain child of two experienced hoteliers who have worked together for several years.

“Both Simons have an extensive track record in developing and delivering for some of the UK’s respected hotels and leisure brands and have successfully built a business that provides strategic management services to the hospitality industry, Helmsley Hospitality.”

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