CHEVIOT TRUST HOTEL
Mortgage Of £14,000 Being Raised
The secretary of the Cheviot Licensing Trust (Mr D. S. Byrne) said yesterday that the trust was now arranging a contributory mortgage of £14,000. Of the estimated £38.200 required to build the hotel—an eightbedroomed. reinforced concrete structure of 6000 square feet—one-third was being found by the Government and the i Cheviot County Council, and the restbyway of mortgage and debentures.
Various persons had promised £lO.OOO. and as soon as the balance of to complete the contributory mortgage was promised, all the necessary finance would have been arranged, Mr Byrne said. It was hoped that the amount would be available before Christmas.
The recent general wage order, and other costs, could increase the estimated cost of the hotel by £450. but it was expected that by slightly amending the terms of the tender, the extra amount would be absorbed, Mr Byrne said.
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Press, Volume XCIV, Issue 28150, 13 December 1956, Page 7
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149CHEVIOT TRUST HOTEL Press, Volume XCIV, Issue 28150, 13 December 1956, Page 7
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