Dalnair Castle

Aldermore provides £3.3m for Dalnair Castle conversion

The FM Group has secured a £3.3m development finance facility from Aldermore to convert a 19th century Scottish mansion into 10 luxury apartments.

The facility is the first development that the specialist bank has funded in Scotland and will see the Edinburgh-based property developer build the apartments at the 60-acre Dalnair Castle site (pictured above), set on the edges of Loch Lomond and the Trossachs National Park.

It will also feature eight mews properties, four plots within a walled garden and a further 10 pieces of land set within the existing landscape. 

Aldermore castle
Dalnair Castle

Simon Knowles, head of property development at Aldermore, said it was a fascinating project to be part of. 

“Dalnair Castle is a key landmark in the area and we are pleased to be playing a part in the extensive refurbishment programme, not least because it highlights that there is financing available for this type of challenge. 

“Supporting businesses that transform historic buildings into something that will be as impressive as the Dalnair residential development is exactly the type of work we pride ourselves on and we look forward to doing many similar projects in the future.”

The FM Group was established in 1997 and over the past 20 years it has successfully developed and sold thousands of residential homes and commercial properties throughout the UK and overseas. 

“As a luxury bespoke home builder, we spotted the opportunity that Dalnair Castle offered immediately,” said Jonathon Milne, managing director of the FM Group. 

“The next step was then to secure a funding package to enable us to achieve our vision. 

“We were fortunate to have been introduced to Simon and the Aldermore team by our real estate partner – he and his team structured a competitive financing deal that will enable us to create a prestigious, high-specification development that will offer a unique lifestyle to our customers.”

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