Howard Kennedy advise Metro Bank on loan facility to Cirrus Inns Group
Law firm Howard Kennedy has advised Metro Bank on a new loan facility to Cirrus Inns Group. The loan will allow Cirrus to complete an £11.67m purchase of two pub operating companies and the three London pubs they own.
Cirrus Inns, under The Epicurean Collection name, operate 20 boutique inns dedicated to the finest of British food, comfort and culture. Its Inns are largely set in idyllic village locations across central southern England and in London.
The loan facility from Metro Bank, completed just before Easter and in a short time period, will allow Cirrus Inns to purchase Cross Keys Freehold Ltd and DM Public House Ltd and the three pubs they own and operate – The Cross Keys in Chelsea, The Brown Cow on the Fulham Road, and The Sands End in Fulham.
At the same time Metro Bank will take security on 20 of the pubs owned by Cirrus Inns.
The Howard Kennedy team was led by Partner and Head of Banking and Asset Finance Steve Clinning with support from solicitors Katie Jackson and Franceli Rossatto (Real Estate), Solicitor Jon Janes (Banking) and Solicitor Anastasia Demetriou (Corporate and M&A). Addleshaws represented the borrowers.
Steve Clinning said:
Howard Kennedy has a strong track record in acting for both lenders and borrowers, and real strengths in the leisure and hospitality markets. Our unique position enabled us to bring this lending from Metro Bank together in a near record time frame. We look forward to further work with Metro Bank.
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors.
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Daryl Atkinson, Business Development & Marketing DirectorHoward KennedyDaryl.Atkinson@howardkennedy.com