A TWO-YEAR renovation project that nearly ran out of financial steam twice concludes today with the official opening of Stirling’s newest hotel, writes Kristy Dorsey.
Costing nearly £500,000, the boutique Friars Wynd includes eight individually designed bedrooms within a formerly dilapidated Victorian building in the heart of the city. Employing five people, it also has a wine bar and restaurant.
Owners Jonathan and Ying Holwell “put everything on the line” after spotting the property in 2013. Although originally looking to open a restaurant, the couple drew up fresh plans for a hotel.
They nearly ran out of money twice – they re-mortgaged their home, used up their life savings and tapped into investment from both of their fathers. A £50,000 loan from the East of Scotland Investment Fund, secured with assistance from Business Gateway Stirling, helped clear the final hurdles.
Jonathan said: “We are a small family business whose unique hotel will help showcase the history and beauty of the city where we live.”