A Yorkshire family’s esteemed presence in the hospitality industry will persist, thanks to the generous financial support of The Cumberland Building Society. The renowned family-run Filey Grange guest house in Filey Bay, North Yorkshire has recently secured a term loan of £266.5k, ensuring a seamless transition of ownership from its retiring founders to their son, James Hewitt. With this opportunity, James embraces his first commercial property venture while upholding the family’s legacy of exceptional hospitality.
The picturesque Filey Grange guest house holds a special place in the hearts of the Hewitt family, and their determination to preserve its familial connection has led them to take over the property. Maintaining the high standards that have earned a five-star Gold Award and an excellent rating of 96% on TripAdvisor, James and his wife are eager to continue providing extraordinary experiences for their guests.
The Cumberland Building Society, renowned for its specialization in hospitality lending, has played a significant role in ensuring the guest house’s prosperity even beyond its traditional summer season. With bookings already showing promise for the autumn and winter months, Filey Grange is set to captivate visitors year-round, debunking the perception of quieter seasons in Filey Bay tourism.
James acknowledges the pivotal role The Cumberland played in bringing his dreams to fruition, remarking, “The Cumberland saw the potential where others didn’t.” Despite facing multiple rejections from other lenders, The Cumberland’s people-centered approach and Katherine from their Commercial team’s close collaboration made all the difference in securing the loan. James expresses his gratitude, stating, “Their support allowed me to build a new life for my family.”
Nestled near Filey Beach, hailed as one of Britain’s best beaches by The Sunday Times, Filey Grange provides an idyllic setting for nature enthusiasts, walkers, and business travelers alike. James, cognizant of the strong demand, aims to position the guest house as a year-round sanctuary, prepared to hire additional staff during the summer season to meet the growing influx of visitors.
By offering a personalized relationship-managed service, The Cumberland Building Society, drawing on over two decades of experience in supporting hospitality businesses, ensures that customers have a dedicated point of contact for guidance and assistance at all times. Katherine Thomson, the Commercial Relationship Manager at The Cumberland, shares her excitement in supporting James as he takes the reins of the family guest house, emphasizing their mutual commitment to exceptional guest experiences and local tourism.
James credits Katherine at The Cumberland for managing the deal from start to finish and providing invaluable guidance for the success of the business. Additionally, Katherine introduced James to Setfords Solicitors, a highly regarded West Yorkshire firm specializing in business and property law, ensuring a smooth transition of ownership. The collaboration highlights The Cumberland’s solid regional connections and extensive expertise in the hospitality sector.
With the stage set to welcome both new and returning guests, James is confident that the family’s tradition of hospitality will continue to flourish with the unwavering support of The Cumberland Building Society. For more information, visit www.fileygrange.co.uk, or learn about The Cumberland Building Society’s services at www.cumberland.co.uk/business.
Frequently Asked Questions:
Q: What financial support did The Cumberland Building Society provide for Filey Grange guest house?
A: The Cumberland Building Society provided a term loan of £266.5k to support the ownership transition of the guest house.
Q: Who is taking over the Filey Grange guest house?
A: James Hewitt, the son of the retiring founders, is taking over the guest house.
Q: What is the reputation of Filey Grange guest house?
A: The guest house has earned a five-star Gold Award and an excellent rating of 96% on TripAdvisor.
Q: What is the role of The Cumberland Building Society in the hospitality industry?
A: The Cumberland Building Society specializes in hospitality lending and has played a significant role in ensuring the prosperity of Filey Grange guest house.
Q: What is the location and appeal of Filey Grange guest house?
A: Filey Grange guest house is located near Filey Beach, which has been hailed as one of Britain’s best beaches. It appeals to nature enthusiasts, walkers, and business travelers.
Q: How does The Cumberland Building Society provide customer support?
A: The Cumberland Building Society offers personalized relationship-managed service, ensuring customers have a dedicated point of contact for guidance and assistance.
Q: Who is Katherine Thomson and what is her role in supporting James and the guest house?
A: Katherine Thomson is the Commercial Relationship Manager at The Cumberland. She played a crucial role in supporting James and ensuring the success of the business.
Key Terms/Jargon:
– Term Loan: A loan with a specified repayment schedule and a fixed or variable interest rate, typically repaid over a set period of time.
– Hospitality Lending: A specialized type of lending focused on providing financial support to businesses in the hospitality industry.
– Guest House: A type of accommodation establishment that offers rooms to guests, typically on a short-term basis, providing services similar to a hotel.
– Influx: A sudden arrival or increase in the number of people or things.
– Relationship-Managed Service: A personalized service where customers have a dedicated point of contact for guidance and assistance.
– Ownership Transition: The process of transferring ownership of a business or property from one owner to another.
Suggested Related Links:
– The Cumberland Building Society – Business Services