Having leased the self catering lodges for the last ten years, Fusion has secured full ownership of the two-acre asset, with banking outfit Atom stepping in to refinance a private investment deal which the group had secured last autumn.
Over the past decade, Fusion has heavily invested in accommodation, personnel and on-site facilities at Logierait Lodges, with the business now enjoying an 84 per cent occupancy rate.
With the Atom deal now sealed, the group, which operates assets ecompassing some 600 bedrooms and lodges across the country, is now looking to work with more hospitality businesses through its specialist commercial property agency, Drysdale & Co, launched last month.
Fusion group managing director, Alex McKie, said: “We are delighted to have been supported in this way by Atom bank and Clear Sky Financial Services, both of whom have gone the extra mile to ensure this deal happened, even although we are in the middle of an unprecedented global pandemic.
“This move shows that when strong and stable businesses can demonstrate good underlying performance and leadership, banks can find the ability to lend to them in these very challenging times.
“Hopefully this will be good news for others in our sector who will see not only that Atom is open and ready for good business, but that they should not give up. They must keep trying to find the right partners to work with, whether it’s a bank, or a specialist agency. In this way, it is possible to secure paths out of the current predicament hospitality finds itself in.”
Liam Brodie, regional business development manager at Atom, said: “We understand just how difficult this time has been for business owners and that’s why we’ve been working tirelessly during the pandemic to ensure businesses receive the support they need.
“We have a continued commitment to support these sectors and also to our brokers over the coming months and years as we have sought to reprioritise our efforts towards the provision of fair, affordable and timely lending.”