In a five year deal with Santander Corporate & Commercial funding will be provided to Jesmond Dene House to further develop business for their hotel and restaurant, with plans being submitted to expand by converting existing stables into a luxury spa.
Previously a 19th century mansion house, Jesmond Dene House has carried out various roles over the century and been owned by several historical Newcastle figures including Lord Armstrong. In 2005 the mansion was converted from a residential school into the current hotel. The funding deal comes on the back of repeated and growing profits for the hotel, which has been ranked in TripAdvisors Top 25 UK hotels for 2013. The funding runs counter to current trends of low lending to small and medium businesses, with the managing director being pleased that it confirms their progress since opening. Santander has remarked that it is “an excellent opportunity to invest in high-quality business in the North East.”
This historic building is located alongside Jesmond Dene Park and is likely to become a top spot to visit in Newcastle for both locals and visitors from farther afield as the funding is put to work.