£6m in funds for hotel operator

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Manorview Hotel & Leisure Group has bought the Busby Hotel in Clarkston and Greenock’s Redhurst Hotel after borrowing £6.25 million from Barclays through the Funding for Lending scheme run by the Bank of England and the Treasury.

Cash from the loan will also be used to refurbish some of Manorview’s four other hotels, which consist of properties in East Kilbride, Howwood, Johnstone and Wishaw.

Jamie Grant, head of corporate banking for Barclays in Scotland, said: “We are increasing our presence in the hospitality and leisure sector, where we believe there are strong opportunities for operators like Manorview.

“The company has been astute in taking advantage of competitively-priced assets coming to the market.”