Former Magistrates building set for hotel revamp with £1.6m loan

Plans to redevelop a historic Magistrates building in Ormskirk into a hotel are set to progress following a £1.6m loan agreement.Walker & Williams has secured the loan from Lancashire’s Growing Places Fund, managed by the Lancashire Enterprise Partnership (LEP), which will be used to create the Ormskirk Court Hotel on Derby Street.As part of the £3m plans, the former Magistrates building, which dates back to the 1850s, will be refurbished and extended to accommodate 23 luxury apartments complete with en-suite bathrooms, living space and kitchenettes.The old courtroom and cells will be transformed into a restaurant and bar called the Alibi, for use by guests and the community.The scheme could support about 100 jobs in the town.Vincents Solicitors’ corporate and commercial director Michael Sandys and commercial property director Craig Aikman assisted Walker & Williams in securing the loan.Max Walker-Williams, Walker & Williams director, said: “I am thrilled the LEP has agreed to back this project through its Growing Places Fund, and that they recognise the huge benefits the redevelopment of the former court house will bring to Ormskirk. Not only will we revitalise one of the town’s most beautiful historic buildings, we’ll also provide new jobs for local people and create an exciting new destination for visitors and locals alike.”Debbie Francis, chair of the LEP, added: “The Growing Places Fund is designed to help kick-start new developments, or get stalled schemes back on track, which have the potential to generate both economic and social value to the wider community.”By supporting the Ormskirk Court Hotel we are not only enabling the creation of local jobs, we are helping to boost the town’s hospitality and leisure offer. It’s also anticipated that the scheme will help meet Edge Hill University’s need for more high-quality accommodation in West Lancashire, which will be another major benefit to the region.”Craig Aikman, who has worked with Walker & Williams on two previous hotel acquisition and funding agreements, said: “We’re pleased to assist our client in securing the Growing Places Fund loan which allows completion of the building project. We know the quality that Max and his team will deliver and it will be really exciting to see the hotel open and bring the boutique hotel experience to Ormskirk town centre.”Michael Sandys added: “Given the due diligence required by the LEP in making the loan, and the importance of ensuring best value for the Fund, we put both our corporate and commercial property teams onto the project. Together with the LEP’s advisors Knights, we worked hard to support both the property and financial requirements of the arrangement in order to get the deal secured as efficiently as possible.”