As Phase II of the refurbishment programme of The Cottage in the Wood Malvern, finishes this week, co-owner Nick Davies has secured £2.1m from the Cumberland Building Society enabling the complete refurbishment of the entire hotel by 2020, two years ahead of schedule.
After purchasing The Cottage in the Wood in 2015, Nick and his wife Julia began Phase I of the three phase refurbishment of the hotel. A redesigned 1919 Restaurant & Bar and renovated public spaces in the Main House were launched in April 2017.
Phase II completes this week with the refurbishment of all seven bedrooms in the Main House and the redesign of Beech Cottage with four bedrooms.
Brokered by Christies, the funds from the Cumberland Building Society will fulfil the owners’ ambition to forge ahead and refurbish the remaining 19 bedrooms in the Coach House, build an orangery to extend the bar capacity and convert two meeting rooms into a family suite in 2020.
Bob Bishopp, Head of Commercial Lending at The Cumberland, comments “Here at The Cumberland we’ve been supporting accomplished hoteliers for over 25 years. Nick and Julia have an ambitious plan to transform their hotel and we are delighted to be involved in helping them to deliver that plan over the course of the next 12/15 months and beyond”.
David Ward, Senior Director at Christie Finance, comments on the funding process: “It was an absolute pleasure to work with Nick and Julia again to secure the funding they needed. Having worked with them both before, I had an excellent knowledge and understanding of their business and what their aspirations are for improving the hotel. This scenario is an excellent example of how we can work with clients to source the funding they need, when their incumbent lender is unable to support their business growth aspirations.”
Nick Davies, says: “The deal with Cumberland Building Society is very exciting for The Cottage In The Wood. We can develop the hotel into the great community space it should be for guests near and far to enjoy. It is testimony to the dedication of the staff that has enabled this to happen. All of us are very excited to be taking the hotel to the next level and completing our vision.”
The Cottage in the Wood has partnered with Nelson Design for each phase of the refurbishment programme. Blending contemporary Georgian style and colour, bold and bespoke wallpapers, vintage one-off pieces of furniture and artwork, The Cottage in the Wood is evolving into an exquisite haven in the hills.
Since relaunching in April 2017, 1919 Restaurant has achieved a strong reputation for its warm service and refined menus of local produce. Meanwhile the hotel bedrooms already enjoy high occupancy throughout the year. In January 2018, Nick and Julia saw an 80% increase in revenue above target.
Notes to editors: The Cottage in the Wood comprises of The Main House, with seven newly-refurbished bedrooms,1919 Restaurant & Bar, the newly-refurbished Beech Cottage with four bedrooms, and The Coach House with 19 bedrooms which are due to be refurbished in 2020 along with the building of an new orangery and the conversion of two meeting rooms into a family suite .