UK: Aimrok Holdings, the owner of The Gresham, in Leicester has received £13.8m of new funding from Cynergy Bank.
The Gresham opened in November 2021 following a £17 million refurbishment.
The original building was designed by Leicester architect, Isaac Barradale in the 1800s, and was home to Joseph Johnson’s department store until 1962 when it was purchased by Fenwick. The site is an example of Leicester’s Victorian architectural heritage and three of the original units were awarded Grade II listed status in October 2017.
The 121-bed aparthotel features a restaurant and bar, gym, as well as 1,114 square metres of conference facilities, coworking spaces and four commercial units.
The finance provided by Cynergy Bank enables Aimrok Holdings to refinance its existing facilities following the completed development of property. The group was provided with a Turnkey Funding Solution following the completion of the development.
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.”
Cynergy Bank was established in 2018 by entrepreneurs to serve the needs of business owners, property entrepreneurs and family businesses.
Aimrok Holdings is a private limited company that was first incorporated in October 2016. Aimrok own and operate The Gresham Aparthotel in Leicester.
