Northumberland Nook: Case Study
Shepherd’s Hut Finance
The Project
Tom and Hannah first came to see us at the The Glamping Show in 2020. They had the dream of starting up their very own high-end Glamping business, Northumberland Nook on their stunning farm based in Northumberland.
They were visiting The Glamping Show as part of their initial research and planning, and so they explored various different hut builders and suppliers as well as what the possibilities were of securing finance for their proposed business venture and Glamping huts.
When we spoke to Tom and Hannah, they were very passionate about the proposed project and we discussed their plans with them in detail.
The Process
Time moved on and during the months that followed, Tom and Hannah worked to secure planning permission for their project, overcoming some challenges along the way!
They had found a fantastic local hut supplier and things were finally underway. As time had moved on, the cost of the huts had gone, but they were determined to create something really unique and special. The final overall cost was £150,000 per hut.
With financing this project, we faced the challenge of securing funding for a New Start business. However, we have a wealth of experience working with startups and after some lengthy negotiations between our Customer and our Funders, we managed to secure a 5 Year Loan (80% LTV) secured against the Hut.
We felt this was a fantastic feat for all parties concerned and we were delighted to reach such a successful agreement.
Equipment: 1 Luxury Glamping Hut
Finance Product: 5 Year Secured Loan (80% LTV)
Amount Borrowed: £120,000
Finance Product: 5 Year Secured Loan (80% LTV)
Amount Borrowed: £120,000
The End Result
After nearly 3 years of lots of hard work and determination the first hut is now finished and looks amazing.
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