Co-op refinances Hope St Hotel

THE Co-operative Bank has completed a refinancing of the privately-owned company that runs Liverpool’s prestigious Hope St Hotel.

The bank has agreed to provide an £8.8m package to the hotel’s owners following the completion of a major extension to the boutique hotel last year, which involved the design and construction of the first modern building on the Georgian street in over 40 years.

This sensitive redevelopment in the heart of the city’s Georgian Quarter has already led to a string of award wins, including Best Hotel in the north of England at the Northern Hospitality Awards and Hotel of the Year by The Mersey Partnership.

Dave Brewitt, owner and chief executive of Hope Street Hotel, said: “We banked with the same bank for many years but we are delighted that in the wake of the financial crisis competition is slowly returning into the banking sector.

“Having completed £6m of the expansion work there was significant interest from a number of banks in our business, but ultimately we had a simple choice between our existing bank and The Co-operative Bank. 

“We are very pleased with our decision to move to The Co-operative, on the back of their fantastic ethical advertising campaign and their competitive offer.”

The extension has increased the rooms to 89, including a gym and treatment rooms. It has also added an entrance directly from reception to its own award-winning restaurant, London Carriage Works. A new top floor event and private dining space has also been introduced.

Dave Matthews, senior business development manager at The Co-operative Bank’s Liverpool Corporate Banking Centre, said: “Hope Street Hotel has a reputation as one of the most prestigious independent boutique hotels in the country, and we are pleased to have been able to develop a funding package that exactly met their needs.”