Carberry Tower, a luxury, 4-star castle hotel and event venue on the outskirts of Edinburgh, is set to expand after securing a £2.9 million funding package from HSBC UK.
The privately-owned family business plans to use its new financial package to create new leisure and dining experiences on-site for residents and the general public.
The business has grown by 23 per cent in its first three years of trading and is on track for 10 per cent turnover growth for 2019. This success meant the business required new finance to consolidate and fund development plans for the future.
Douglas McCreadie, General Manager at Carberry Tower, explained:
“The growth of the business has meant there was a need to ensure we were financially stable for the future. HSBC UK listened to us and bought in to our plans and vision for growing the business by offering a creative and flexible approach to our requirements. Having HSBC UK’s backing allows us to open up the hotel by providing luxury experiences for non-hotel residents.”
Susan Rowand, Head of Business Banking in Scotland, HSBC UK said:
“Carberry Tower has achieved a great deal in its first three years of trading, effectively building the business up from scratch. Douglas and his team have great plans for growing and improving the hotel in the future to position it as one of Scotland’s finest luxury castle hotels and destination dining and leisure venues. We look forward to seeing the positive changes take shape in the coming months.”
Carberry Tower Mansion House Hotel, known as Edinburgh’s ‘Castle in the Country’, currently employs 65 staff and comprises 40 acres of private estate parkland. Dating back to 1480, Carberry Tower enjoys a long connection with Her Majesty the Queen, who often visited the hotel with her sister Princess Margaret.