Memery Crystal advise Shiva Hotels on construction aspects of £230m financing for Marylebone hotel

Cale Street will release £160m and Crosstree £70m into the initial four-year facility. The Marylebone Lane Hotel, which would welcome its first guests in early 2023, is among a range of luxury lifestyle hotels planned by owner and operator Shiva Hotels. The site is a former car park adjacent to the new Bond Street Crossrail station.

The Memery Crystal team on this transaction was led by Head of Construction Joanne Kelly, and also included James Ashwin and Meera Pankhania.

Rishi Sachdev, Managing Director at Shiva Hotels, said: “We are thankful to Jo and her team at Memery Crystal for all their efforts. This is a challenging time for everyone involved in the hospitality sector and our near-term focus continues to be on working closely with all our stakeholders to navigate through this period of uncertainty. In the longer term, however, we are steadfast in our conviction that the global appeal of London will continue and that this will translate into strong demand for our carefully curated hotels in highly desirable locations.”

Joanne Kelly, said: “We are delighted to have advised Shiva Hotels on this deal. Securing this financing from hugely selective financiers in the current climate is a superb achievement for Shiva, and we look forward to working with Rishi and his team as they progress this luxury lifestyle hotel development.”