Ulster Bank’s backing for Wirefox’s purchase of the Bushmills Inn is a strong signal of its appetite to support deals in the sector, the bank says. The purchase of the North Coast venue, for an undisclosed sum, represents the bank’s latest deal in the industry, which despite an extremely challenging period of trading, is considered to have significant long-term potential.
Ulster Bank’s Head of Corporate and Property, Kenton Hilman, says that the bank sees the sector as extremely important given Northern Ireland’s future tourism potential.
He says: “The tourism and leisure sectors were amongst the most severely affected by the pandemic and Ulster Bank provided a wide range of support to help customers through the impacts of the various restrictions. We have worked closely with customers in the sector to help them benefit from the recovery and indeed to plan for future growth. We expect strong investment in the sector to continue for the foreseeable.”
Commenting on the Bushmills Inn deal, Lisa Allen, Relationship Director at Ulster Bank, said: “The Bushmills Inn is one of the best-known hospitality destinations in Northern Ireland and has a fantastic location on the north coast. Ulster Bank worked closely with Wirefox to provide the financial support for the deal. With the venue’s strong reputation, the north coast’s ongoing popularity, and the expertise of Wirefox, the Bushmills Inn has a great platform to enjoy continued success into the future”.
Commenting on the Bushmills Inn deal and Ulster Bank’s support, Kathryn Robinson, investment director at Wirefox, said: “We are delighted to welcome this fantastic team and impressive property to our growing portfolio of interests and look forward to acting as custodian of such an iconic asset in the months and years ahead. Ulster Bank’s help was extremely valuable to us, and we are grateful to the team for the expertise and support.”
The Bushmills Inn is a former coaching inn on the Dunluce Road in Bushmills and dates back to the early 17th century. It has been extensively restored and extended in recent years and now has more than 40 rooms and suites along with its restaurant, bar and loft.