Duck Bay refurbishment given boost thanks to new Barclays’ loan cashback system
Barclays has supported the recent refurbishment of iconic Loch Lomond destination, Duck Bay, which has unveiled a new look restaurant, coffee shop and bar.
It is the first business in the UK to benefit from the Barclays Corporate Banking ENABLE Guarantee cashback scheme which was launched at the start of the year. This offering provides businesses with 0.25% cashback on new term loans.
Collectively known as Duck Bay Marina, the restaurant, hotel and cottages are hospitality group Cawley Hotels & Restaurants’ flagship location.
The group chose to rebank with Barclays to help fund the renovation of Duck Bay and support continued growth. The bank provided loan funding, with cashback of 0.25% on the loan amount via the ENABLE Guarantee scheme and, separately, it extended the overdraft position.
This offered the flexibility required for the renovation which represents the first stage of a wider refurbishment of the well-known Loch Lomond site.
Founded in 1985 by husband and wife duo Bobby and Margaret Cawley, the establishment first opened its doors 35 years ago. The family-owned business has grown considerably over this period and is now run by Bobby and Margaret’s children Alan and Margo.
In addition to Duck Bay, Cawley Hotels & Restaurants has expanded operations to include a coffee shop and gift shop, the House of Darrach, in Gartocharn and four licenced restaurants across central Scotland. This includes Loch House in Lochwinnoch and Coast in Inverclyde, whilst acquisitions extended the group’s portfolio to include Boardwalk in Falkirk in 2018 and River House in Stirling, which opened in October last year.
The rebank has seen the hospitality specialists consolidate services including card acquiring through Barclaycard.
Alan Cawley, managing director of Cawley Hotels & Restaurants, said: “We chose to bank with Barclays for a mixture of reasons, the first being the strong local connection the team offered, and secondly, the bank’s excellent track record in the hospitality and leisure sector. This expertise made the decision to invest in phase one of the refurbishment of Duck Bay an easy one. Later this year we’ll roll out further refurbishment to our hotel rooms. It’s an exciting time for the business and it is great to have the support of Barclays as our financial partner.”
Gordon McKean, relationship director, Barclays Corporate Banking in Scotland and Alistair Stewart, associate director, business development, led the deal team for Barclays.
Mr McKean said: “Duck Bay is an iconic Loch Lomond destination and we are pleased to have supported its recent refurbishment and to have offered the group the facilities they require for future growth. We took the time to understand their specific needs to ensure we could provide a flexible solution that aligned with their vision. We are really happy to welcome Cawley Hotels & Restaurants to Barclays as a new client.”