Perthshire-based River Tilt holiday park has secured a multi-million finance package from Cambridge & Counties Bank to refinance existing debts, invest in redeveloping the site and add new leisure facilities.
The finance package included a six-figure refurbishment loan, a dedicated product aimed at supporting property investors and developers looking to enhance the value of assets through light redevelopment and refurbishment programmes.
Located 30 miles north of Perth in Scotland, River Tilt Park has been owned by family-run Richardson & Others since 1981.
The park offers 52 lodges and 64 static caravan pitches as well as a variety of utility buildings and a leisure club with swimming pool, gym, and restaurant.
The funding from Cambridge & Counties Bank will support the refurbishment and upgrades of on-site cottages as well as the bar, restaurant, and leisure centre.
It will also help complete the redevelopment of The Roundhouse Inn, a substantial two-storey building of stone sitting in 0.8 acres currently being extended and refurbished.
Stuart Richardson, director of Richardson & Others, said: “River Tilt Park has become a very popular, successful holiday destination in this area of Scotland, and it’s great to be able to capitalise by expanding the site, adding more facilities for our guests and refurbishing some key assets.”
Barry Rodger, senior relationship manager at Cambridge & Counties Bank, added: “We’re delighted to be able to support the team at Richardson & Others with a bespoke lending package, including our refurbishment solution, as they look to invest in their business and grow.
“Refurbishment loans can be a flexible means to upgrade properties and add value, and a very useful option for many professional investors and businesses.”
