An award-winning Belfast boutique hotel is planning a major expansion after securing a £160,000 loan from the Investment Fund for Northern Ireland.
Facilitated by Whiterock, the loan has enabled the owner of the Harrison Chambers of Distinction, Melanie Harrison to acquire an adjoining Victorian townhouse property.
Described as a ‘bohemian bolthole’, the hotel currently comprises 16 elegant rooms, each with their own theme and celebrating a person of note from Northern Ireland, such as writer C.S. Lewis and singer, Ruby Murray.
The development will see the hotel, which currently employs 12 staff, expand into the adjoining property with the addition of 11 more suites along with improved kitchen and dining space, a piano lounge and communal areas.
Harrison Chambers of Distinction owner, Melanie Harrison said:
“The process of working with Whiterock was very straightforward and the team really helped and guided me. I would have no hesitation in recommending them to other business owners.
“I had been a bit nervous of meeting my deadlines, but Whiterock helped me feel really assured and when the loan was agreed the funds were transferred in a really timely manner which helped me with my plans to buy the property.
“I opened the hotel in 2020 in the middle of the pandemic and I honestly didn’t know what to expect as the world was in a chaotic state.
“In our first year we won a number of prestigious travel awards and we were so well received by our guests.
“The deal with the Investment Fund for Northern Ireland will really help us go to the next level, building on what we already have and attracting even more people from all around the world.”
Whiterock Head of Property Finance, Clare Stokes said: “Whiterock is delighted to be working with Harrison Chambers of Distinction to support the continued growth of its unique contribution to the increasingly impressive accommodation offering within Northern Ireland.
“Melanie’s experience and hands-on approach undoubtedly underpin the ongoing success of the business. However, it is her undeniable and infectious passion for what she does that truly shines through in both the unique style of the property and the excellent customer service and personal approach that every guest benefits from.
“This deal perfectly showcases the intended focus of the Investment Fund for Northern Ireland, in that as fund managers our aim is to assist local businesses in realising their growth plans across a range of sectors throughout Northern Ireland”
British Business Bank Director, Nations and Regions Investment Funds, Mark Sterritt said:
“The Harrison Chambers of Distinction has already earned a stellar reputation for delivering warm personal service in really stylish and opulent surroundings.
“We share Melanie’s belief that there is a real opportunity for further growth for the hotel and we are delighted to be able to provide the finance to help her realise this ambition.
“Supporting exciting and innovative businesses on their growth journey is exactly what the fund is designed to do, and I am looking forward to seeing how the Harrison Chambers of Distinction progresses.”
The £70million fund offers a range of commercial finance options including debt finance and equity investment to support businesses from all sectors in Northern Ireland and at different growth stages.
Whiterock manages the debt fund, offering loans of £25,000 up to £2million while Clarendon Fund Managers provide equity stakes in smaller businesses up to £5million.
To find out more about the Investment Fund for Northern Ireland visit http://www.investmentfundnorthernireland.co.uk