Member Article

OakNorth refinancing secures expansion for Longshot Country Inns

The owners of the Bel & The Dragon group of country inns, Longshot Country Inns, has secured a £5.3m loan from OakNorth bank to expand the number of bedrooms in its portfolio.

Longshot owns seven restaurant and rooms venues in Cookham, Churt, Godalming, Kingsclere, Odiham, Reading and Windsor, which it operates under the Bel & The Dragon brand after it purchased the original four Bel & Dragon sites in 2010.

Since then, the group acquired three more country inns to bring total rooms under management to 47, a figure which they now hope to increase to 61 thanks to this latest financing deal.

The agreement has refinanced Longshot’s debt facilities and, along with providing growth capital for the business, will also be utilised as working capital for its business operations.

Joel Cadbury, Chairman and Co-Founder of Longshot, said: “Whether joining us for lunch, tea, dinner, or even spending the night, we aim to make our guests feel at home, so are delighted to have secured this loan which will enable us to accommodate even more visitors.”

Deepesh Thakrar, Debt Finance Director at OakNorth Bank, added: “Joel Cadbury and Ollie Vigors are born entrepreneurs with an exciting and diverse track record of starting, scaling and exiting numerous successful and unique businesses.

“Along with Hector Ross, COO of Longshot Country Inns, they have built an incredibly strong portfolio and we look forward to working with the team on more deals in the future.”