UK law firm Shoosmiths has advised luxury hotel operators, Hotel La Tour on £22 million of financing to develop a new landmark hotel that will become one of the tallest buildings in Milton Keynes.
As a privately owned British company, Hotel La Tour comprises hoteliers who are focused on customer service and scrupulous attention to detail.
Hotel La Tour aims to provide a four star plus hotel with five star service, to match the ambition of the commercial growth and development of Milton Keynes - a city with the benefit of being built by design - and its proximity to London.
The hotel’s plans include a rooftop bar and restaurant, 261 bedrooms, ten conference rooms holding up to 300 delegates and a gym.
The team was advised by banking partner Liz Sweeney on the development finance deal with associate Chantelle Dabek, as well as real estate partner James Needham and solicitor Iyanu Onalaja on the hotel site’s leasehold.
Liz Sweeney said: “We were pleased to deliver this work for Hotel La Tour in around six weeks, compared to up to around 12 weeks typically for this type of transaction in the legal services industry.”
Managing director of Hotel La Tour, Mark Stuart said: “It has been a pleasure to work with Shoosmiths on the legal side of both development financing and the site’s leasehold as we progress our exciting new landmark hotel project.”
Hotel La Tour is due to open its doors in 2022.