Project: Start-up unique hospitality venue and golf driving range
Facility: £600,000 development loan
Purpose: Fund the building costs of a new leisure and hospitality venue
Background – From family farm to hospitality venture
Halwyn, situated on the North Cornish coast, offers a unique visitor experience with a 15-bay state-of-the-art Trackman-equipped golf range, a mini-golf course, and rustic feasting barns with glorious views over the Crantock countryside. The project is the brainchild of Will Eustice, a professional quantity surveyor who saw an opportunity to transform his family’s farm in Crantock into something extraordinary.
Challenge – Securing development finance for a start-up business
Will was seeking £600,000 to support the build costs. Securing finance for this project posed difficulties, as it represented a unique requirement: a development loan for a start-up business. The combination of an untested leisure business, commercial development, and start-up model rendered it an unconventional case for most traditional lenders.
Solution – A flexible and merit-based approach
However, we found a lender willing to take a flexible and merit-based approach to underwriting, assessing the project based on its substance and the strength of Will’s background. In fact, the lender was so convinced of the project’s merits that it didn’t request a formal valuation, and we secured a two-year loan facility to be drawn down in stages.
Outcome – A flagship Cornish destination
With the necessary funds in place, Will and his family were able to proceed with the farm’s transformation and bring their ambitious leisure and hospitality vision to life.
Conrad Robins and Jeannie Cain of ASC visited Halwyn as the project was nearing completion to receive a full guided tour from Will, a proud client with an inspiring attention to detail. Every element of Halwyn has been considered, from the customer experience to food quality, utilising locally sourced produce, and, of course, the golfer!
The venue will provide a great family day out as well as a hub for golf, business hospitality and corporate events.
