Morecambe guesthouse set for £600k renovation

The former guesthouse which closed at least 12-18 months ago, sits towards the outskirts of the town on West End Road.

It is around five-10 minutes walk from the main amenities and the proposed Eden Project site.

The property is a large mid-terraced home set out over five floors and is being converted to provide seven x one-bed and one x two-bed self-contained serviced accommodation with ensuite rooms and kitchenettes.

The influx of investment due over the next twelve months as the Eden projects gets underway is likely to see strong demand for this type of accommodation in the area as it will provide an affordable alternative to standard hotel and guesthouse amenities sought by the corporate market working in the area during the week, and the leisure and tourist industry at the weekend.

North-west headquartered specialist marketplace lender Assetz Capital provided the £607k development loan to Higher End Ltd to develop the old guest house in Morecambe.

Colin Doyle, Relationship Director at Assetz Capital 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.”

Higher End Ltd are a North-West based construction company who are renovating the property.