The Northern Powerhouse Investment Fund II (NPIF II) has successfully closed its first deal in West Yorkshire since launching the £660m fund in March this year. This achievement marks a significant milestone for the fund.
Located 1100ft above sea level on the Yorkshire moors, Thornton Park Farm has secured £100,000 from NPIF II – Mercia Debt Finance, managed by Mercia and part of NPIF II, to establish a glamping site. The investment will enable the Dunnett family to construct five luxury pods and expand their income streams beyond traditional farming activities.
Richard Dunnett, alongside his wife Nina and son Jack, are excited about the opportunity to diversify their business. Richard, who inherited the farm from his parents, expressed his desire to pass it on to the next generation. He emphasized the importance of having a varied mix of activities to sustain a small farm in today’s economic landscape.
Gary Whitaker from Mercia Debt Finance praised Richard’s entrepreneurial spirit and commitment to the farm. He highlighted the challenges faced by small businesses in securing financing from traditional banks and commended the impact the funding will have on both the Dunnetts’ financial stability and the local tourism industry.
Independent advisor Richard Hargreaves played a crucial role in providing fundraising guidance to the Dunnett family. With the support of NPIF II, the family is looking forward to welcoming their first guests later this year, contributing to the growth of their business and the regional economy.
