11 Finance Monthly. The Monthly Round-Up headlines, more must be done to support the lifeblood of our country, the small and medium-sized businesses that drive innovation and economic growth. The UK lacks financial support and funding towards smaller businesses and entrepreneurs looking to develop their ideas and grow.” “When you consider the fact that they not only support innovation, but they offer increased job opportunities, supporting the future stability of the country, the importance of support and investment is clear. While funding is needed, government support and initiatives must also continue to be provided and alongside investor interest, SMEs can receive the support they need to boost the nation’s economic growth.” Prof Stephen Millard, NIESR deputy director for macroeconomic modelling and forecasting, said: “The triple supply shocks of Brexit, Covid and the Russian invasion of Ukraine, together with the monetary tightening that has been necessary to bring inflation down, have badly affected the UK economy. “As a result, we expect stuttering growth over the next two years and GDP [gross domestic product] to only recover to its 2019 quarter four level in 2024 quarter three. The need to address the UK’s poor growth performance remains the key challenge facing policymakers as we approach the next election.” CLUB OF INVESTORS LED BY CBE CAPITAL INVESTS IN SIX SENSES, PORTO HELI, GREECE London-based real asset investment firm CBE Capital has led a club-deal investment into a new Six Senses resort and branded residences to be developed in Porto Heli on the Greek mainland. The EUR150m development is financed by a club of equity investors including the Greek Goutos family, the New York-based fund Taconic Capital (advised by Cedar Capital) and CBE Capital. The project is among the first institutional-level investments in the Greek hotel sector led out of the UK. Set to open in 2026, the Six Senses Porto Heli will offer around 60 rooms and suites, most with private plunge pools and private terraces or gardens, along with a three-bedroom retreat villa. In addition, there will be ten branded residential villas for sale, offering five to eight bedrooms. The property is located in two private bays in the elegant municipality of Ermioni, with the famous islands of Spetses and Hydra within its sight lines. Geza Toth Feher, Managing Partner of CBE Capital: “With increased uncertainty around interest rates and inflation in established markets, our focus on high-yielding opportunities in Italy and Greece is really paying off. We at CBE are immensely proud of this transaction which will add an exciting new chapter to the Peloponnesian region.” Six Senses Porto Heli is yet another addition to CBE’s involvements in luxury hotel acquisitions in Southern Europe. CBE has arranged deals valued over EUR1b including the recently opened La Palma Capri by Oetker Collection and the Corinthia Rome which is under development. Building on this strategy, CBE has appointed UBS to raise up to 400m EUR in additional equity from a small number of institutional investors for its growing pipeline of investments in ultraluxury resorts, hotels, and branded residences.
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