Friday, June 14, 2024
Friday, June 14, 2024
HomeNewsNew Hotels & DevelopmentCarlowrie Castle receives £3.4m investment

Carlowrie Castle receives £3.4m investment

Carlowrie Castle located on the outskirts of Edinburgh has received an expansion investment of £3.4m from the Cumberland Building Society.

Known for hosting weddings and events, Carlowrie Castle, the exclusive-use venue has been awarded a string of accolades in recent years including being crowned one of the top three venues in Europe at the International Hotel Awards, and one of the eight best wedding venues around the world by Grazia Magazine, the only UK venue represented. 

Work funded by the investment, which will see the venue welcome more guests and offer a greater choice of accommodation, is already underway and will complete in 2023. It sees a derelict stables block restored to house seven ensuite bedrooms, while five modern cabins and a sauna will be erected in the new year, offering accommodation for a further 10 people.

The expansion of Carlowrie Castle comes as the business reported its most successful year to date, having hosted 265 weddings and events in 2022.

In addition to facilitating the expansion of the castle itself, the investment from The Cumberland has enabled founder and CEO, Andrew Marshall, to broaden Carlowrie Group’s portfolio through the launch of Edinburgh Street Food.

The city’s first seven-day-a-week street market, which will open its doors for the first time on 25 February, will feature a 10,000 sq ft indoor and large outdoor space, and will be home to 10 award-winning street vendors, three bars, and 150 live events each year, creating a boost for the local economy. Coinciding with Carlowrie Group’s commitment to giving back to the local community, Edinburgh Street Food plans to use some of its profits to create a mental health initiative in the city.

The business is also a major benefactor of London-based charity RESTART, which owner Andrew founded in 2009 to support homeless people to overcome the challenges of life on the streets.

Commenting on his collaboration with The Cumberland, Andrew Marshall, said, “We’re delighted to have worked with The Cumberland to create new accommodation options for our guests at Carlowrie Castle in order to meet growing demand.

“It was crucial for me to find the right lending partner and when I came across The Cumberland I was pleased that our founding values were aligned. They ticked all the right boxes and the team didn’t disappoint when it came to working together to make our goals a reality.”

Alasdair Swan, Senior Commercial Manager at The Cumberland, commented, “We have really enjoyed the opportunity to support Andrew with his latest ventures, and particularly to have played a role in the expansion of Carlowrie Castle, which is such a renowned venue and an excellent Scottish success story.”

 

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