Holiday Inn Express, Barrow
In early 2019 Maven provided a £1.5 million mezzanine loan to developer APB who are a subsidiary of Ashall, a privately-owned business which has been active in property development since the 1930s.
The transaction offered Maven investors the opportunity to invest in the development of a new 127-bedroom Holiday Inn Express in Barrow in Furness (Barrow), Cumbria. The developer, APB, have previously worked on other hotel developments including Aloft in Liverpool and the Holiday Inn Express in Middlesbrough.
The new hotel is currently being developed on the site of a former police station in the centre of the town. Once opened the hotel will be operated under a franchise agreement with InterContinental Hotels Group (IHG), who are one of the largest hospitality companies in the world with more than 800,000 rooms in 5,400 hotels across 100 countries.
The £12.85 million development of the Hotel Inn Express, Barrow, is expected to be completed in November 2019.