Boutique hotel brand receives £3.8m to acquire and refurbish luxury retreat
Boutique hotel brand The Signet Collection has received £3.8m in funding from OakNorth Bank to transform the Barnsdale Lodge Hotel in Oakham into a 4-star spa resort.
The Signet Collection was founded by seasoned hotelier Hector Ross in early 2020. The company’s other properties include The Mitre Hotel at Hampton Court and The Retreat at Elcot Park.
Barnsdale Lodge Hotel has been in Thomas Noel’s family since 1760 and formed part of the adjoining Exton Park, seat of the Earls of Gainsborough.
Formerly a farmhouse and hunting lodge, it was converted by Noel in 1983 and now enjoys a 4.5-star rating on TripAdvisor.
The property currently consists of 46 en-suite bedrooms, 17 self-catering cottages, three private dining and events rooms with space for up to 50 guests, a larger function space which can accommodate up to 120 guests, a hair salon called Glow and a 130-cover restaurant.
Signet will refurbish the rooms, convert the existing events space into a spa and an events space with capacity for 150 guests, and develop new retail units.
Hector Ross said: “Signet Hotels is all about taking assets in the UK countryside that have fallen out of love, favour or investment, and breathing new life into them.
“I’ve now worked with OakNorth Bank for a number of years for both our Mitre Hotel in Hampton Court and The Retreat at Elcot Park, so I know they listen, they believe in backing entrepreneurs, and will work collaboratively to make plans come together.”
Deepesh Thakrar, senior director of debt finance at OakNorth Bank, added: “We’ve worked with Hector and the team for years, so know this is a team that can deliver and has the expertise and drive to succeed in this highly competitive market.
“The fact that this is the third time Hector and his team have chosen us as their trusted funding partner demonstrates that we’ve continued to deliver on our promise to delight customers and offer a borrowing experience that’s truly differentiated.”
