With many hotels developed within existing property, Willmott Dixon has the ability to work within all property to transform it into pristine hotel accommodation.
This includes Grade Two listed property and disused or derelict office accommodation that investors want to transform into a top branded hotel. Much of this is in city centre locations where knowledge of working in busy urban locations is essential.
One recent example is a 76-bed hotel in the Chichester city centre opposite the famous Cathedral, where we carried out a part new build, part refurbishment of a listed façade which is being retained.
We know there is often a lack of funding available and the fact that funding sources often see development, especially hotel development as a “risk”. This risk is taken into account and costed accordingly. Unless developers have between 40-50 per cent equity to invest in the project then it often will remain dormant.
Willmott Dixon Investments can “unlock” some of these developments by offering a financial solution which could take the form of a JV or a payment break during the construction process. Full payment will probably be required upon PC of the project on the back of a realistic guarantee.
Acting as a financial catalyst, Willmott Dixon can enable construction projects to get under way in these difficult times with the client achieving maximum value in the process.