Morecambe guesthouse set for £600,000 renovation

A five-floor guesthouse in Morecambe is set for a major overhaul after its owners, Higher End, secured a £607,000 development loan.

The property is a large mid-terraced home setw hich has been used as a guesthouse in recent years. The site is being converted to provide seven one-bed and one two-bed self-contained serviced accommodation with ensuite rooms and kitchenettes.

The finished property will consist of serviced apartments aimed at supporting the local corporate and tourism sectors.

The funding was provided by Assetz Capital. Colin Doyle, relationship director said: "This is a great example of what our lending ethos can achieve.

"It’s always pleasing improving an existing property to make it great again, and with local tourism on the rise this new enterprise will support the sector and the local economy. This is the second loan we have completed with the director, so long may the partnership continue."