Husband and wife team, Paula and Alex O’Donnell, had ambitious plans to develop a £1 million innovative glamping and leisure complex next to the very popular North Yorkshire Moors railway, which attracts more than 350k visitors a year.
The three-acre site will have nine quirky glamping units housed in converted railway freight wagons and guards’ vans. In addition, there will be a central reception building containing a restaurant, café, shop, exhibition and meeting space, toilets and showers, and a three-bedroom manager’s apartment.
The complex, aptly called the Engine Shed, had to be ready in time for the busy tourist season so Paula and Alex contacted us as they needed £800k to complete the development. We therefore quickly arranged a business finance package for them.
Speaking about the scheme, Paula O’Donnell, said,
“To create such an innovative scheme requires a huge investment and we are grateful to Mark Tudor at Tudor Financial for introducing us to the team at Reward Finance Group. Dave Jones of Reward visited the site, saw the potential and bought into our vision. We were impressed that the £800k funding facility was set up so fast, without having to jump through hoops, so we could progress the project to ensure we were open for the forthcoming season.”
Dave Jones, Joint Managing Director of Reward Finance Group, added,
“Paula and Alex have developed a number of successful businesses but, like many other entrepreneurs, they have a significant amount of money tied up in fixed assets.
“I am confident the glamping and leisure venue will prove to be a big success. It is going to be a top-quality scheme, in a superb location which already attracts an enormous amount of people throughout the year.
“Paula and Alex are 100% committed to making a success of the Engine Shed and it was an easy decision for Reward to buy into their vision and to provide financial support to make the project happen.”