Owner of aparthotel checks-in £14m funding deal

Aimrok Holdings, the owner The Gresham hotel in Leicester city centre, has landed £13.8m of new funding from Cynergy Bank.

The Gresham Aparthotel opened in November 2021 following a £17m refurbishment. The 121-bed aparthotel also includes a restaurant and bar, gym, as well as 12,000 sq ft of conference facilities, co-working spaces and four commercial units.

The cash will be used by Aimrok to refinance its existing facilities following the completed development of the Gresham Aparthotel.

Mark Copson, partner at Aimrok Holdings and co-owner of The Gresham said: “It was a pleasure to work with Cynergy Bank. The team applied innovative and strategic thinking to find the right solution to meet our requirements. We look forward to building on this relationship and working with the team in the future.

Sat Shingadia, relationship director, Cynergy Bank, said: “It has been a pleasure working with Aimrok holdings, to complete the bank’s first hotel turnkey commercial transaction. Aimrok Holdings is a prosperous business and is run by an impressive management team and will no doubt grow from strength to strength.”