Michelin-starred restaurant doubles accommodation after funding deal

A MICHELIN-starred restaurant on the edge of the North York Moors has more than doubled the number of luxury hotel rooms it provides following a funding deal.

Established a decade ago by the Banks family, The Black Swan at Oldstead, the restaurant is now mainly run by sons Tommy, who is head chef, and James as front of house, and a dedicated team of wider family and colleagues.

The Black Swan is one of the only restaurants in Yorkshire and the North East to hold the combination of four AA Rosettes and a Michelin Star and was recently ranked 28th in The Sunday Times Top 100 Restaurants.

The funding from Santander Corporate & Commercial has enabled the Banks family to purchase a property close to the restaurant to create five luxury guest bedrooms, increasing the total number of rooms to nine.

The extra facility has helped the business to meet what it says is an oversubscribed customer demand and enable it to capitalise on Oldstead’s image as one of the ‘must visit’ places in the North of England.

Tom Banks, senior partner at The Black Swan in Oldstead, said: “The property we purchased is so close to the restaurant that it was a once in a lifetime opportunity to buy the most suitable building in the village. We were very pleased with how quickly the deal was approved and the efficient service that Santander Corporate & Commercial provided to support the expansion of our business.”

Luke Rowbotham, relationship director, Santander Corporate & Commercial said: “Now a nationally acclaimed restaurant with a Michelin Star and 4 AA Rosettes, The Black Swan is a great local success story and one of the only restaurants in Yorkshire to hold this prestigious combination of awards. We are delighted to support such a ground-breaking restaurant as it looks to capitalise on a highly successful business model.”