Croft Hotel eyes growth after £2 million support

A hospitality venue says it has laid the foundations for future growth after a £2 million renovation.

The Croft Hotel has expanded with Develop North PLC backing.

Operator Apartment Group has carried out extensive work on the Grade II-listed base, in Croft, near Darlington, with six new bedrooms complemented by function suite, restaurant and garden revamps.

Bosses say the venture – which has supported the creation of nearly 20 jobs – has also delivered a “flourishing” wedding chapel that is attracting “couples from across the region”.

The expansion follows a blueprint set out two years ago by Apartment Group to deliver an “extensive transformation” of the hotel, which was designed in the 19th century by Durham Cathedral architect Ignatius Bonomi.

Stuart Bailey, Apartment Group chief executive, said: “The Croft Hotel has become an outstanding addition to our portfolio, and the investment has delivered a spectacular setting for weddings and events.

“Develop North’s support was invaluable in realising our vision for the hotel; it’s fantastic to partner with a fund that truly believes in the potential of businesses like ours.”

Managed by Tier One Capital, the Newcastle-based wealth and fund management firm, Develop North has provided more than £80 million to residential and commercial property schemes across the North of England and Scotland. 

Brendan O’Grady, Tier One Capital fund manager, said: “This project highlights how Develop North’s alternative lending can help dynamic, entrepreneurial businesses make a meaningful impact on the local economy.

“The North East has a rich heritage and incredible potential, and by supporting projects like this, we can contribute to both regeneration and economic growth.”

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