Ortus Secured Finance has provided a structured senior debt facility to refinance and redevelop Dumbleton Hall Hotel, a Grade II* listed country house in the Cotswolds.

The 34-bedroom property, set within 15.8 acres near Evesham, is undergoing a multi-million-pound transformation and is expected to reopen under the management of Bespoke Hotels in late 2025.

The hotel is owned by Chatham Park Development, a US-based firm with a strong track record in real estate development. The company acquired the property in April 2021 and was advised on the transaction by Westfort Advisors, with legal counsel provided by Stevens & Bolton.

HERITAGE RESTORATION

The funding from Ortus refinances an existing facility and supports the ongoing repositioning works at the historic property. Designed to restore and enhance the hotel’s heritage features while elevating its appeal to the premium hospitality market, the redevelopment is due for practical completion in the third quarter of next year.

A second phase, which will see the addition of 20 woodland lodges, is scheduled for 2026.

The deal was led by Jamie Russell, director at Ortus Secured Finance, and is indicative of the lender’s growing appetite for complex, high-value hospitality assets where there is a clear delivery strategy in place.

“This is exactly the kind of complex operational real estate transaction Ortus excels at,” Russell said. “We were impressed by the borrower’s commitment to the scheme, their track record, and the level of progress already made. The structure ensures alignment on every drawdown and gives us strong visibility on the delivery path.”

He added that while Ortus is not typically associated with development and refurbishment projects, the strength of both the asset and borrower justified the firm’s involvement.

Deepak Drubhra, co-founder of Westfort Advisors, said the transaction had to navigate several challenges, particularly the listed status of the hotel and the requirement to refinance midway through the build.

“Working closely with Ortus, we were able to agree a funding structure that balanced development risk and significantly improved the sponsor’s return on capital,” he said.

Robin Sheppard, president of Bespoke Hotels, which previously operated Dumbleton Hall, welcomed the opportunity to return as operator. “Dumbleton Hall is a truly special property in one of the UK’s most iconic destinations,” he said.

“We’re delighted to be returning as operator and look forward to unveiling the next chapter in its storied history.”