Lender Shawbrook has provided construction and property company WS Dunsire & Sons with development finance amounting to 1.57 million pounds. The capital provided will fund the comprehensive structural realignment of a property in Stirling, Scotland, where a building complex formerly used for hospitality is being converted into a modern veterinary clinic.
Specifically, the transaction concerns the former Hollybank restaurant and adjoining hotel in the St Ninians district. The existing property is being converted into a specialist facility for veterinary medicine and specialised care. The scheme exemplifies the revitalisation of commercial space whose previous use is being vacated in favour of crisis-resistant service sectors.
Transformation of a traditional site in St Ninians
Following completion of the upcoming works, a gross development value of around 2.86 million pounds is forecast for the property. The conversion of the historic Hollybank building creates space for contemporary medical equipment and operating theatres that were previously unavailable in this form across the Stirling region.
The financing facility structured by Shawbrook has an agreed term of 14 months. This timeframe provides developer WS Dunsire & Sons with the necessary operational certainty to complete the complex conversion on schedule and hand the property over to the operator.
Key transaction details
- —Financing volume: 1.57 million pounds
- —Lender: Shawbrook
- —Developer: WS Dunsire & Sons
- —Facility term: 14 months
- —Expected gross development value: around 2.86 million pounds
The provision of the financing underscores the selective interest of alternative lenders in conversion schemes outside standardised office and retail markets. Upon completion of the construction scheme in St Ninians, the regional property market gains a specialised healthcare facility tailored to long-term structural changes in demand for veterinary infrastructure.
