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Edinburgh property developer to convert castle into luxury living space

POSTED: 31st October 2017
IN: Newsroom
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The FM Group today announced that it has successfully secured funding to convert Dalnair Castle, a 19th century Scottish Baronial mansion, into 10 luxurious apartments with the support of a £3.3million property development facility provided by specialist bank, Aldermore.

The FM Group today announced that it has successfully secured funding to convert Dalnair Castle, a 19th century Scottish Baronial mansion, into 10 luxurious apartments with the support of a £3.3million property development facility provided by specialist bank, Aldermore.

Based in Edinburgh, The FM Group was established in 1997 by the Forbes and Milne families over the last 20 years. The company has successfully developed and sold thousands of residential homes and commercial properties throughout the UK and overseas.

The 60 acre development at Dalnair Castle, which is set on the edges of Loch Lomond and the Trossachs National Park, will also boast eight mews properties, four plots within a walled garden and a further ten pieces of land set within the existing landscape. Furthermore, residents will benefit from access to new walking and cycling paths, as well as a tennis court.

Simon Knowles, Head of Property Development at Aldermore said: “This is the first development that Aldermore has funded in Scotland and it is a fascinating project to be part of. Dalnair Castle is a key landmark in the area and we are pleased to be playing a part in the extensive refurbishment programme, not least because it highlights that there is financing available for this type of challenge. Supporting businesses that transform historic buildings into something that will be as impressive as the Dalnair residential development is exactly the type of work we pride ourselves on and we look forward to doing many similar projects in the future.”

Jonathon Milne, Managing Director of The FM Group said: “As a luxury bespoke homebuilder we spotted the opportunity that Dalnair Castle offered immediately. The next step was then to secure a funding package to enable us to achieve our vision. We were fortunate to have been introduced to Simon and the Aldermore team by our real estate partner - he and his team structured a competitive financing deal that will enable us to create a prestigious, high specification development that will offer a unique lifestyle to our customers.”

*Ends*

 

For further information, journalists can contact:

Carmel McCarthy, Aldermore
Phone:            020 3553 4216
Mobile:           07464 644754
Email: carmel.mccarthy@aldermore.co.uk

Twitter:          @Aldermorenews

Chantal Heckford or Tom Pavey-Smith, Lansons
Phone:            020 7294 3630 / 020 7294 3606
Email: aldermoreb2b@lansons.com

 Notes to Editors: 

Images available upon request.

  • Finance
  • Press Release
  • Property Development FInance

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