Carson McDowell advises on funding of new development of Dunluce Lodge, Portrush
Carson McDowell is pleased to have acted for the Northern Ireland Investment Fund in respect of recent funding provided to Ballykeel Beg No. 1 Limited to support the development of the new Dunluce Lodge hotel in Portrush.
This deluxe hotel, set to open ahead of next year’s highly anticipated Open Golf Championship, will further enhance Portrush as a leading tourist destination. The Northern Ireland Investment Fund (NIIF) provides debt funding for commercial property, regeneration and low carbon projects in Northern Ireland. Since its inception, it has deployed £170m to support the transformation of the region, supporting long-term, economic growth and the low carbon economy.
The loan will provide vital funding for the completion of the construction of Dunluce Lodge, which promises to offer world-class amenities and accommodation to guests, significantly boosting the region’s hospitality offering. The hotel's development represents a key investment in Northern Ireland’s hospitality and tourism sector, which will create jobs, support local businesses, and attract international visitors.
Carson McDowell’s involvement in this high-profile transaction spanned several practice areas, with experts from the firm’s Hospitality and Leisure sector team advising on banking and finance, real estate, construction, and commercial matters. The multi-disciplinary team was led by Damian McElholm and included support from Katherine Grant, Richard Dickson, Gavin Kerr, and Dawn McKnight.
The team’s extensive expertise in both the hospitality sector and complex financing transactions was pivotal in ensuring a successful conclusion to the deal. Carson McDowell’s contribution to the transaction underlines its commitment to supporting strategic projects that promote economic growth and development in Northern Ireland.
Herbin Duffield, Director, CBRE and Fund Manager to the Northern Ireland Investment Fund remarked on the deal as follows:
“We were pleased to arrange this loan on behalf of the Northern Ireland Investment Fund (NIIF), and in partnership with Carson McDowell, which completed the Facility Agreement and legal due diligence to facilitate the funding of this important project. The loan from NIIF leveraged significant inward foreign investment, and will not only encourage tourism, boost local employment opportunities, and support local producers, but will also further economic growth in the region."
Damian McElholm, Partner, Carson McDowell commented: “We are delighted to have played a key role in enabling the development of Dunluce Lodge, which will be an exciting new addition to the Portrush landscape. We look forward to seeing the positive impact this hotel will have on the region and the wider local hospitality and leisure sector”.
