Business

Oban hotel major renovation backed by The Cumberland Building Society

A MAJOR refurbishment of an Oban hotel has been backed by a six-figure funding package from The Cumberland Building Society.

The Cumberland said it had “made a statement of intent by financing more than 60% of the acquisition of the hotel in Oban”.

Hotel, bar and restaurant owner Paul Sloan purchased the property in 2021, when it was named The Wellpark Hotel.

Currently undergoing a complete renovation, the hotel will be reopened as “No. 17 on the Promenade”. The 23‐room boutique hotel, on the West Highland town’s seafront esplanade, is due to open in April.

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Mr Sloan said: “I can’t reiterate enough how great my experience of working with The Cumberland team has been. They have allowed me to not only invest in this project, but also look ahead to future investment opportunities, which wouldn’t be possible without their help. One year ago, I felt extremely unsure on my future in the hospitality industry – now I am set to open another luxury spot in Oban, one that guests will enjoy for years to come.”

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Scott McKerracher, head of commercial at The Cumberland, said: “We’re thrilled to be a part of Paul’s latest acquisition. No 17 on the Promenade is set to deliver an exquisite level of luxury and promises to bring something extremely special to Oban.”

The renovation of the hotel includes a new plumbing system, rewiring, and installation of air conditioning. Some original features will be maintained including a 16th-century Jacobean ceiling in one of the living areas.

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