Walker Williams Newest Development
Lancashire Enterprise Partnership provides development funding for Ormskirk Hotel
Vincents Solicitors advises developer Walker & Williams
Development of the new Ormskirk Court Hotel is set to progress following agreement of a £1.6m loan from Lancashire’s Growing Places Fund, which is managed by the Lancashire Enterprise Partnership (LEP).
Vincents Solicitors assisted aparthotel developer Walker & Williams in securing the loan which will fund the refurbishment and extension of the former Ormskirk Magistrates building in Derby Street.
Once complete, the boutique hotel will offer 23 luxury apartments complete with en-suite bathrooms, living space and kitchenettes. The old courtroom and cells will be transformed into a stunning restaurant and bar called the Alibi, for use by guests and the wider community.
Max Walker-Williams, Walker & Williams director, said: “I am thrilled the LEP has agreed to back this project through its Growing Places Fund, and that they recognise the huge benefits the redevelopment of the former court house will bring to Ormskirk. Not only will we revitalise one of the town’s most beautiful historic buildings, we’ll also provide new jobs for local people and create an exciting new destination for visitors and locals alike.
“I want to thank the LEP for their support, and the expert team at Vincents for their tireless work in getting this agreement arranged so we can move forward with our plans.”
The refurbishment and extension to the original 1850s building is expected to cost around £3m and the hotel will support around 100 new jobs for the town. It is hoped the hotel will open before the end of next year.
Debbie Francis OBE, Chair of the LEP, said: “The Growing Places Fund is designed to help kick-start new developments, or get stalled schemes back on track, which have the potential to generate both economic and social value to the wider community.
“By supporting the Ormskirk Court Hotel we are not only enabling the creation of local jobs, we are helping to boost the town’s hospitality and leisure offer. It’s also anticipated that the scheme will help meet Edge Hill University’s need for more high-quality accommodation in West Lancashire, which will be another major benefit to the region.”
Vincents Solicitors’ corporate and commercial director Michael Sandys and commercial property director Craig Aikman provided support.
Craig Aikman, who has worked with Walker & Williams on two previous hotel acquisition and funding agreements, said: “We’re pleased to assist our client in securing the Growing Places Fund loan which allows completion of the building project. We know the quality that Max and his team will deliver and it will be really exciting to see the hotel open and bring the boutique hotel experience to Ormskirk town centre.”
Michael Sandys added: “Given the due diligence required by the LEP in making the loan, and the importance of ensuring best value for the Fund, we put both our corporate and commercial property teams onto the project. Together with the LEP’s advisors Knights, we worked hard to support both the property and financial requirements of the arrangement in order to get the deal secured as efficiently as possible.”
Services provided by Vincents team include Pre Construction Searches, CIL liability, Collateral Warranty, Review Legal Charge and Debenture, Property Enquiries, Commercial Finance Enquiries, Loan and Facility Agreement, Security Documents, Deed of Subordination and company documentation.
Contact Craig Aikman on CraigAikman@vslaw.co.uk or call 01253 542 002
or Michael Sandys on MichaelSandys@vslaw.co.uk or call 01772 280 329.
Pictured: Vincents Solicitors’ Craig Aikman and Michael Sandys with Max Walker-Williams (centre) outside the former Ormskirk Magistrates Court