Together finances luxury accommodation in the Cairngorms

By Bridging Loan Directory 27th March 2023

Specialist lender Together has provided a loan of £400,000 for a family-run developer to convert a former guesthouse into boutique holiday apartments in Aviemore.

The development in Grampian Road, will create 10 luxury, self-catering rooms for visitors in one building, with another 11 rooms in a separate building, for guests to stay when visiting the tourist hotspot.

Entrepreneurial brothers Stephen and Martin Sweeney, who have previously successfully refurbished a hotel in Motherwell to create The Sweeney Rooms, are behind the latest development to create a ‘home from home’ for visitors.

They initially approached Together, which has a £5.9billion loan book, for a loan to buy the tired B&B, known as the Vermont.

The brothers have committed to an extensive re-modelling and renovation programme, using local tradespeople and companies to carry out the work, to create “modern, stylish and appealing” accommodation for some of the one million tourists who visit Aviemore each year.

Martin Sweeney, Director at Sweeney Rooms, said:

“We are incredibly excited to open our new Sweeney Rooms development. The area has so much to offer visitors from all over the world; and the tourism provides jobs and income to people who live locally.

Our guests are encouraged to embrace and use the local services of shops cafes, takeaway, restaurants, pubs local amenities and facilities, helping to generate business within the local economy and supporting the growth of the community.

We will be sourcing and utilising local labour and suppliers in our refurbishment and there will be continued employment in terms of maintenance, management, changeovers of linen and cleaning supplies.”

Once completed, the Aviemore apartments will be equipped with the latest ‘smart technology’ for the comfort, safety and security of guests.

There will be a local duty manager who will have full visibility of the apartments’ monitoring system as well as automated direct messaging to guests.

Mr Sweeney said the Grampian Road development is the latest of many similar Sweeney Rooms hotels planned for sites across Scotland.

He said: “Having already built an excellent relationship with Together, we didn’t hesitate to approach them again to assist with the funding of this project.

We look forward to opening a number of new sites across Scotland in the future, offering the same high-quality, luxury places for visitors to stay and experience everything this country has to offer.”

Situated near the stunning Cairngorms National Park, Aviemore is an area which draws tourists from all over the world. Its breathtaking scenery is a huge draw for hikers, sightseers and skiers, and the resort plays host to a number of events throughout the year.

Martin and Stephen’s plan is to utilise the finance offered by the specialist lender to purchase the property and carry out renovations, before mortgaging to a high-street lender.

Steven Clark, Regional Development Director at Together said:

“We are delighted to have helped the brothers in the purchase of this guesthouse. Having worked with them previously, we had complete confidence in their ability to deliver, and we’re incredibly excited to see the finished project.

Aviemore is a very desirable location for tourists, with its proximity to the Cairngorms for beautiful views, scenic walks and even skiing.

We are confident in the brother’s ability to build a successful business here, and hope that this is just the next step in the building of the Stephen and Martin’s property portfolio.

In the current climate, those in the leisure and hospitality sector often face huge challenges in attaining the finance they need, and we at Together are delighted to be able to offer solutions.

Taking a flexible approach to finance, we can always look for a way to help our customers achieve their property ambitions.”

The new apartments are currently under development, and expected to be open to the public spring 2023.