James’ Places secures funding for growth plans
A luxury, boutique hotel and wedding venue operator headquartered in Clitheroe has secured a multi-million-pound finance package with Barclays to support its ambitious growth plans.
The new financing package will enable James’ Places to pursue an ambitious expansion and acquisition strategy across the North West in the coming years.
Bowland Inns & Hotels Limited, trading as James’ Places, has moved its entire banking to Barclays, which has provided a £26m facility to refinance existing debt and provide significant additional headroom to support future growth and acquisition.
The group owns and operates a collection of historic buildings in the Ribble Valley, Lune Valley and the Yorkshire Dales. It currently has a portfolio of eight sites, including boutique hotels, exclusive wedding venues, gastropubs and restaurants.
They range from Georgian mansion Eaves Hall in the Ribble Valley to Holmes Mill in Clitheroe, a multi award winning textile mill conversion which is home to the group’s Bowland Brewery, beer and food halls, a 39-bedroom hotel and cinema.
Turnover for the financial year 2021-23 will exceed £23m and group employees will number over 450 by the year end.
James Warburton, managing director of James’ Places, said: “We are absolutely delighted to begin a new banking relationship with Barclays.
“We can now look ahead to building a bigger and better business. We have solid foundations; we have a great operations team, and we now have a great banking partner.”
Rob Morland, Barclays relationship director, put together the funding package. He said: “I have been in discussions with James and the senior management team for a number of years and during that time have been impressed with the outstanding quality of the group’s offering and resilience in the face of the Covid pandemic.
“The strength of the senior management team means James’ Places have emerged stronger from recent challenges faced by the whole industry and I look forward to a long and successful partnership, helping to bring their future growth plans to fruition.”