A BOUTIQUE hotel in Liverpool’s Georgian quarter has secured an £8.8m refinancing deal with The Co-operative Bank.

Hope Street Hotel completed a major extension last year and has now completed the refinancing, which is for a 15-year period.

Dave Brewitt, owner and chief executive of Hope Street Hotel, said:Š“We banked with the same bank for many years, but we are delighted that, in the wake of the financial crisis, competition is slowly returning into the banking sector.

“Having completed £6m of the expansion work, there was significant interest from a number of banks in our business, but ultimately we had a simple choice between our existing bank and The Co-operative Bank.

“We are very pleased with our decision to move to The Co-operative, on the back of their fantastic ethical advertising campaign and their competitive offer.

“We worked closely with Dave Matthews and his team, quickly developing a good relationship, and now the deal is complete we are looking forward to working together on our expansion plans for the future.”

Dave Matthews, senior business development manager at The Co-operative Bank’s Liverpool corporate banking centre, said: “Even in the face of ongoing economic uncertainty, The Co-operative Bank remains on a strong financial footing – with funding available for the right projects.

“Hope Street Hotel has a reputation as one of the most prestigious independent boutique hotels in the country, and we are pleased to have been able to develop a funding package that exactly met their needs.”