31 May 2022: Aimrok Holdings, the owner of prominent hotel, The Gresham, which is located in one of Leicester’s most iconic landmark buildings, has received £13.8m of new funding from Cynergy Bank.
The Gresham Aparthotel provides luxury accommodation in the historic heart of Leicester. The hotel opened in November 2021 following a £17 million refurbishment. The 121-bed Aparthotel also includes a restaurant and bar, gym, as well as 12,000 sq.ft. of conference facilities and state-of-the art co-working spaces and four commercial units.
The finance provided by Cynergy Bank enables Aimrok to refinance its existing facilities following the completed development of the Gresham Aparthotel. 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 commented, “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.
About Aimrok Holdings
Aimrok Holdings is a private limited company that was first incorporated in October 2016. Aimrok own and operate the Gresham Aparthotel in Leicester. The Gresham Aparthotel opened in November 2021 following a £17 million refurbishment. Located in one of Leicester’s most iconic buildings, this 121-bed Aparthotel also includes a restaurant and bar, gym, as well as 12,000 sq.ft. of conference facilities and state-of-the-art co-working spaces and four commercial units. It was part-funded by an £8.2million loan from Maslow Capital and a £4million Growing Places Fund (GPF) loan through the Leicester and Leicestershire Enterprise Partnership (LLEP).
The building was designed by Leicester architect, Isaac Barradale in the 1800s. It originally comprised of eight separate buildings and was home to Joseph Johnson’s department store until 1962 when it was purchased by Fenwick. The building is a superb example of Leicester’s Victorian architectural heritage and three of the original units were awarded Grade II listed status in October 2017
About Cynergy Bank
Cynergy Bank was established in 2018 by entrepreneurs to serve the needs of business owners, property entrepreneurs and family businesses. We have a strong track record supporting businesses that want to scale up and provide over £3bn lending to scaling businesses across the UK, we also offer retail deposits to UK savers. Our vision is to provide a truly personalised service that is delivered through face-to-face relationships and enhanced by the latest technology.
At Cynergy Bank we recognise that our customers’ personal and professional lives often overlap. Our mission is to help empower them to achieve their ambitions by serving all their interdependent banking needs. We provide a range of digitally enabled products and services to meet the property finance, business and commercial banking, private banking and personal savings needs of our customers.
Cynergy Bank has signed partnership agreements with Google Cloud and Wipro Limited to continue to innovate in the human digital space.
Cynergy Bank is a UK bank, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Eligible deposits are protected up to a total of £85,000 by the UK Financial Services Compensation Scheme. Cynergy Bank was established following the acquisition of a UK based community bank in 2018. For more information on Cynergy Bank visit www.cynergybank.co.uk