ASK lends GBP12.75m against a freehold boutique hotel in Soho
ASK Partners (ASKa), a real estate funding specialist, has lent GBP12.75 million against a 20,000 sq ft, freehold boutique hotel on Warwick Street in the heart of London’s Soho.
The Karma Sanctum Soho hotel, has 30 beds, a cinema room, restaurant and rooftop bar.
The freehold to the hotel has been acquired as an investment property by a private client. This is certainly a positive indicator that the London hotel market is expected to bounce back strongly in the wake of the vaccine.
Daniel Austin, Co-founder and CEO of ASK Partners, says: “This is a great investment site in a very strong location that we were delighted to help fund. A key requirement on this deal was speed of execution, and thanks to a combination of our dynamic and flexible capital base and streamlined credit process we were able to meet the timelines even during a national lockdown.”