Funds for the Renovation of a 16th Century Castle
Our client, a successful hotelier, required funds quickly to continue the complete renovation of a historic 16th-century castle within the hotel grounds.
This unique and historic building was to be brought back to its former glory and provide high-end residential accommodation to complement a 5-star-hotel.
Lowry Capital provided total funding of £512,000 in two stages to facilitate the renovation. Once complete, the castle will provide stunning wedding and corporate event accommodation – at a nightly rate of £5000.
“Whilst funding the renovation of a 16th-century castle is not a common scenario and would not fit the criteria of most lenders, having assessed the project in detail we had confidence in the borrower to successfully complete the renovation with the skill, experience and attention to detail required. Funding the renovation of this castle is a great example our flexible approach to lending. We look at each project on its own merits without a rigid criteria – which in this case led to the renovation of a building with true historical significance.”