Puma Property Finance

Puma Property Finance funds hotel development using modular construction



Puma Property Finance has completed a £12.5m loan for the development of a Hampton by Hilton hotel in Ashford, Kent.

The 140-bedroom building will be set over six floors and located near to Ashford International station (which services Eurostar) to provide easy access for national and international travel.

This is the second hotel development funded by Puma Property Finance that will use modular construction and is set to be completed by the end of the year.

Last year, the property finance business agreed to provide a £17.5m loan for a 240-bedroom Hampton by Hilton hotel at Edinburgh Airport.

It previously funded a 134-bedroom Ibis hotel at Luton Airport and two bridging loans for hotel developments in Glasgow.

Puma
 

Paul O’Kane, senior manager at Puma Property Finance, said: “Puma Property Finance is delighted to provide a development facility for a branded hotel scheme with an experienced developer and operator in the sector.

“Throughout 2020, we will continue to increase our UK development financing across all sectors, and we look forward to partnering with experienced property professionals to make this happen.”

Last month, Puma Property Finance completed an £8.5m development loan to finance a new PBSA project in Brighton.

In 2019, Puma Property Finance closed more than £200m in loans.


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