- Founded in 1996 and owned by James Warburton, Bowland Inns & Hotels is a market-leading pub, hotel, and wedding venue specialist operator;
- Headquartered in Clitheroe, Lancashire, the firm operates country pubs with rooms, bars, and restaurants under the James’ Places brand and multi award-winning wedding venues within the Dream Venues Collection;
- With sites located across the Ribble Valley, Lune Valley, and the Yorkshire Dales, the firm’s portfolio continues to grow following its successful “buy and build” strategy;
- The £25m loan from OakNorth will be used to refinance the existing portfolio as well as complete the acquisition and refurbishment of the company’s latest development, Wennington Hall near Lancaster, and the expansion of the bedroom stock at the Waddington Arms near Clitheroe.
OakNorth, the neobank for entrepreneurs, by entrepreneurs, has provided a £25m loan to Bowland Inns & Hotels, the market-leading pub, hotel, and wedding venue specialist operator.
Founded in 1996 and owned by James Warburton, Bowland Inns & Hotels consists of two sub-brands, James’ Places and Dream Venues Collection, which operates its award-winning wedding venues. Headquartered in Clitheroe, Lancashire, the firm’s portfolio has continued to grow as a result of its successful “buy and build” strategy, with it now operating 11 separate venues across the Ribble Valley, Lune Valley, Yorkshire Dales and the South Lakes.
The £25m loan from OakNorth will be used to refinance the existing portfolio of properties and complete both the acquisition and refurbishment of one new property, Wennington Hall near Lancaster, and expand the bedroom stock of one existing property, Waddington Arms near Clitheroe. Wennington Hall, an imposing country house set in magnificent gardens and grounds situated in between the Lake District, the Ribble Valley, and the Yorkshire Dales, is to be transformed into a luxury hotel, retreat, and exclusive-use wedding and events venue. Opening in late spring 2024, the site will join Mitton Hall near Whalley, Eaves Hall near Clitheroe, and Falcon Manor near Settle among others in the Dream Venues Collection. The Waddington Arms is a popular village inn in a picture postcard village at the heart of the Ribble Valley. The expansion scheme will see an increase in the number of bedrooms from 6 to 14 and an increase in dining capacity.
James Warburton, Owner of Bowland Inns & Hotels commented: “Since starting the business way back in 1996 I have always had an eye on growth, always looking out for the next opportunity, the next building to get hugely excited about. As the business has grown, ‘I’ became a ‘we’, and the appetite for growth has got stronger and stronger. Finding the right funding partner for each stage of our growth has been one of the biggest challenges we have had to face. Finding a funding partner that wants to go on the journey with you, that’s more than key, that’s vital.
“We have been talking to OakNorth for a number of years, we found them interesting, different, and genuinely unlike any of the other lenders we have previously spoken to. We found them to be flexible and fully transparent and their unique knowledge and experience of the region’s hotel and wedding venue market was a key factor in getting the transaction over the line so quickly.”
Stewart Haworth, Director of Debt Finance at OakNorth, added: “It is testament to James’ leadership that Bowland Inns & Hotels has been able to build such a positive reputation for offering luxury hotels and wedding venues across large areas of the North West. At OakNorth, we thrive on supporting businesses such as James’ and given the nature of wedding income remains robust throughout the region, we expect these new sites to be an enormous success. We are excited to now be part of the Bowland Inns & Hotels growth story and look forward to supporting them on future growth projects.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a neobank focused on serving and empowering established businesses that are seeking to scale but are routinely underserved or overlooked by traditional banks: what we call the ‘Missing Middle’.
To date, the bank has provided over £10 billion to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 40,000 new jobs, and 29,000 new homes across the UK – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
Media contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588