Perthshire holiday resort secures £1m finance package from HSBC

Perthshire holiday resort secures £1m finance package from HSBC

A luxury holiday lodge and bistro resort in Carse of Gowrie is set to expand after securing a £1 million finance package from HSBC.

Rod and Adelle Sim, owners of Silverwood Lodges and Bistro, supplemented their own financial input with an initial £300,000 loan from HSBC UK to develop the 20-acre site in 2017. This first phase of funding helped develop six acres in to a serviced and landscaped holiday lodge resort, including installation of mains services to each lodge plot, landscaping and dry-stone entrance-way gates.

The couple then secured an additional £700,000 to build the new luxury lodges, with 13 currently on-site and planning permission submitted for six more as well as a new bistro. The growth will mean the resort can cater for approximately 100 guests.

The Sims acquired the old clay works site at Inchcoonans, outside Errol, approximately 10 years ago before developing it. They now employ five members of staff, with additional cleaning and grounds keeping staff expected to join the team when all of the lodges are fully functional and when the bistro opens in spring next year.

Rod Sim, co-owner of Silverwood Lodges and Bistro, said: “The idea for our business came to us when we were planning our own wedding five years ago. The Errol Park wedding venue was stunning, but we felt there was a real lack of accommodation options nearby for our guests.

“With HSBC UK’s support, we’ve been able to accelerate the development of our dream business. We can’t wait for it to take shape over the coming months and we thank the bank for supporting us take our business ideas to the next level.”

Susan Rowand, HSBC UK’s head of business banking in Scotland, said: “Rod and Adelle’s enthusiasm and vision for the site is infectious and we’ve bought into their passion and plans for the business. We’re thrilled to help them with their ambitious growth plans and look forward to seeing the benefits their plans bring to the area’s economy.”

In addition to the new bistro, the couple have now put a scheme in place allowing them to sell some of the lodges as a managed financial investment.

Silverwood Lodges and Bistro is owned by Errol Grounds Ltd.

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