WEST Lothian events venue Carlowrie Castle is embarking on an expansion drive after securing a £1.9 million funding package.
Carlowrie Castle, owned by chief executive Andrew Marshall, is increasing its number of bedrooms from nine to 22. It will take on a further six staff as it adds to its administrative and housekeeping teams on the back of the funding from banking group HSBC. The venue already employs 28 people.
HSBC noted the funding included a new loan and refinancing of existing debt. It did not put a figure on the new borrowings.
Mr Marshall, whose background is in property development, bought Carlowrie Castle in 2012 from his parents, who had owned it since 1982, HSBC noted. He opened it as an events venue in 2015.
The castle, near Kirkliston, hosts weddings and corporate retreats. It has a capacity for events of 450, and has attracted corporate business from countries including the US, Germany and China.
HSBC noted Carlowrie Castle had obtained planning permission to build 12 luxury lodges on the property, after the first round of expansion was complete.
It is expected the addition of the 13 new bedrooms will increase Carlowrie Castle’s turnover by 30 per cent. The current turnover figure was not disclosed.
Mr Marshall said: “Having the backing of the bank will help us realise our ambitions to grow the business and...meet demand from...customers from around the world.”
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