The Edinburgh-based Royal Yacht Britannia Trust has secured support from the lender for its redevelopment of Fingal into a luxury floating boutique hotel and events venue.
The total project cost is £5 million, funded by five-star visitor attraction Britannia’s trading company, Royal Yacht Enterprises.
The initiative aims to cater for strong demand for high-calibre, quality entertainment space, turning it into a five-star hotel offering corporate hospitality and events such as weddings.
Bob Downie, chief executive of The Royal Yacht Britannia Trust, said: “Developing our own hotel has been a long-held ambition, providing organic growth and, whilst generating an income stream that is not reliant on visitors to Britannia, having our own accommodation on Fingal is also expected to help increase the number of evening events we hold on The Royal Yacht.”
Kirsty Johnston, relationship director at Santander Corporate & Commercial, said: “Britannia is one of the most famous ships in the world, and we are absolutely delighted to be working with such a prestigious client.”
She added that the trust team has brought the same level of passion it has for Britannia to Fingal “and that manifests itself in the attention to detail and the design of the project”.