Loch Lomond Castle Lodges (Holdings) Ltd, an established, family-owned business which operates a range of holiday and leisure facilities in Scotland, has secured £600,000 in funding from Cambridge & Counties Bank to add 11 new, high-quality garden lodges to its loch-side site.
Incorporated in 1993, Loch Lomond Castle Lodges has grown into a five-star local business. It currently operates a guest house with five self-catering rooms as well as five self-catering apartments and 10 luxury lodges. A central hub, The Cruin, has a bar and restaurant and two large function rooms predominantly used for weddings.
The site on the banks of Loch Lomond offers a superior and scenic positioning and benefits from the continued popularity of the Loch Lomond and Trossachs National Park as a wedding and tourist destination.
The local tourism market in the region has grown consistently by around 4% per year-on-year, with the National Park itself attracting c. 4 million visitors1. Around 45% of the leisure market is day visitors while 50% are overnight visitors, staying on average 3.6 nights2.
The £600,000 in new funding for Loch Lomond Castle Lodges follows a £2.1 million refinancing package to Cambridge & Counties Bank in April this year to help the business optimise its balance sheet.
James Carr, Director, Loch Lomond Castle Lodges (Holdings) Ltd, said:
“We have benefitted from excellent demand and firmly believe now is the time to invest for growth and expand the site by adding 11 new self-catering garden lodges. Cambridge & Counties Bank has been a strong financial partner for the past six months and it is natural for us to work together again as we realise this exciting next step.”
Barry Rodger, Senior Relationship Manager, Cambridge & Counties Bank, said:
“We are proud to be supporting an ambitious local business with a very attractive market position and a strong tailwind for further growth. The tourism industry in Loch Lomond is thriving and it is clear that Loch Lomond Castle Lodges is well placed to capitalise.”
Cambridge & Counties Bank received support from David Grant at panel broker Axis Commercial, Colliers Valuation Team and Legal Firms Addleshaw Goddard & Harper MacLeod. The transaction was completed within three months of approval.