Filey Boosted by Success of Luxury Holiday Complex

A Filey holiday accommodation complex is set to continue expanding in 2010 after completing a £2.5 million programme of investment funded by Lloyds TSB Commercial.

Using the funding secured from the bank, Yorkshire property developers John Welsby and Richard Firth established 5 Leys as a new apart-hotel concept in 2008, after purchasing and renovating a Victorian hotel and apartment block on Filey’s seafront.

After four years of development, the complex now offers 20 luxury self-catering suites, a children’s play area, laundry facilities and a 40-seat bistro bar and restaurant, which was opened in May 2009.

Malton-born chef Andrew Ward, who has worked in top London venue the Glasshouse Restaurant in Kew, was recruited to run the 5 Leys Restaurant and devise a menu based on traditional British cuisine.

The firm also invested in a new, interactive website in 2009 to showcase its accommodation suites and facilities, as well as promote Filey and the surrounding area as a top UK holiday destination.

Now, after achieving a 50 per cent growth in revenues year-on-year, the business set to add to its six-strong team by hiring seasonal staff to meet rising demand.

Jon Welsby, director of 5 Leys, said: “Last summer we were at full capacity and we’re hopeful of a repeat performance this year as we’re already seeing strong advanced bookings. Not only have we received some fantastic feedback from our customers about 5 Leys, they’ve also been very positive about Filey and the surrounding area.

“We’re now focused on growing the business by establishing a strong customer base and rolling out our luxury apart-hotel concept to other areas of the UK, such as York.

“Lloyds TSB Commercial has backed this development from the beginning, providing the funding and support we’ve required to complete the project and achieve our ambition of providing luxury accommodation and the highest standards of service to our customers.”

Andy Bowden, relationship director for Lloyds TSB Commercial, said: “The success of 5 Leys proves that there is high demand for quality holiday accommodation in the UK, particularly as a growing number of Brits are keen to holiday on domestic shores.

“John and Richard have extensive property development experience and put together a detailed business plan that meant we were able quickly structure a tailored lending package that matched their needs.

“They have a strong concept that reflects market trends and, combined with the significant investment they have put into the business, they are in a good position to capitalise on new opportunities in 2010.”