The redevelopment of Castle Toward, one of Scotland’s most well-known and picturesque stately homes, into a high-end, national landmark venue for private hire, weddings and events has been boosted by a £1 million financing deal between Cambridge & Counties Bank and owners Keith and Denice Punler.
Built in the 19th Century, Grade B-listed Castle Toward sits on the southern tip of the Cowal peninsula, overlooking Rothesay Bay in Argyll & Bute on the west-coast of Scotland. The multi-million-pound investment will boost the local economy, create numerous jobs and secure the future of the house and grounds, with the owners aiming to promote it as a major venue for private events and to rent out some of the estate cottages as holiday lets.
Keith and Denice Punler have both been awarded the Scottish Entrepreneur of the Year Award several times for different ventures and each has a wealth of experience in successfully running large development projects and tourism initiatives.
Keith Punler said:
“The support and funding from Cambridge & Counties Bank has been at the heart of our plans to turn Castle Toward into an even more successful local and national landmark. It has helped put the Castle on a firm financial footing as it enters the next exciting era in its history. The bank took a hands-on approach, with the loan being made available within a month from approval, and we are now very excited to bring our vision for Castle Toward into fruition. This is incredibly exciting for us and excellent news for Dunoon, Cowal and Argyll & Bute as a whole.”
Sue Higginson, Senior Business Development Manager for South East, Cambridge & Counties Bank, said:
“It is clear that Keith and Denice have a passion and vision for Castle Toward and it’s great that we have been able to help them realise their ambitions and aspirations. We know that Cambridge & Counties Bank offers a competitive, unique service for clients and we look forward to working with more SMEs during 2018.”
Broker Chris Whitney, Enness Limited introduced the Punler’s to the bank said:
“Cambridge and Counties are one of the few niche banks who genuinely look to support UK businesses and entrepreneurs by having bespoke common-sense underwriting on a case by case basis rather than the tick box process which is sadly employed by too many financial institutions. They work with us to actively find solutions for our clients and those solutions are implemented in a friendly and efficient manner”.
The solicitors were Hamaad Khalid at Weightmans acting for the Bank and Kenneth Cameron at Fraser Brooks & Co advising for Keith and Denice Punler.
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