UK: Serviced living consultancy Saxbury has launched its finance arm, providing funding solutions to support the serviced apartment and aparthotel industry.
Saxbury is now offering financial solutions to its clients across the UK, supporting with land acquisition and planning to development and exit strategies.
The new service from Saxbury includes refinancing options with competitive interest rates, funding for site purchases, development finance, mezzanine finance and equity solutions.
“Operators are crying out to sign leases on buildings that need to be built for them,” said Saxbury’s leasing director Ben Davis. “Yet the pre-COVID appetite for funding C1-class schemes has waned due to the hesitancy of funds, banks and brokers in the current financial climate.
“We’re in a vacuum of lending – so it’s the opportune time to launch this solution which has been in gestation for years,” Davis added.
“Pension funds have their hands on their wallets,” said Saxbury’s finance specialist, Kristian Hoy. “The forward-funding model is broken and we’re in a flux position. But Saxbury can bridge that gap and provide a different lending solution.”
One of Saxbury’s ongoing projects is an aparthotel development in Birmingham. The consultancy provided full support for the project, such as layout advice, identifying the operator and securing funding.
Saxbury has more than 50 years of collective experience and global, market-wide operator and fund contacts.
