Loch Lomand

Challenger bank refinances major Scottish tourist attraction

Challenger bank Cambridge & Counties (C&C) has completed a £6.6m loan for the new owner of Loch Lomond Shores, one of Scotland's top 10 visitor attractions.

Kemble Business Parks LLP will use the funds to assist in its purchase and to refinance debt from its existing bank. 

Property investor Simon Waterfield was referred to C&C by law firm Freeths after waiting six weeks before being turned down by his high street lender.

The challenger bank was able to deliver his loan in six weeks.

Carl Ashley, director of business development for C&C in Scotland and the North, said: “We jumped at the chance to back Simon, a highly experienced property investor, and to back such a successful and major attraction in Scotland.

“Turning around the deal quickly was an important factor after delays in reviewing the funding requirement by one of the biggest names in banking. 

“It’s one of an increasing number of transactions we have completed in Scotland, where we have invested time in forging really good relationships with commercial brokers and other professionals.”

Loch Lomond Shores first opened in 2002 and now attracts more than one million visitors per year.

Located just 20 miles from Glasgow, the leisure and shopping development will soon boast a new wedding venue, restaurant and spa after securing an investment from Scottish Enterprise and the Loch Lomond & the Trossachs National Park.

“I thought my bank was in the market to lend, but apparently that is not the case,” added Simon.

“[C&C] was key to get the deal done and then to use our expertise to create added value by enhancing what is a good piece of real estate.

“Traditional lenders appear to be throwing obstacles in the way and need to watch out for lenders, such as Cambridge & Counties, [who] are making life a lot simpler and easy.”

Leave a comment