The owners of Formby Hall Golf Resort and Spa in Lancashire have announced plans to open up the business for public investment to help drive an expansion project.
Portuguese-based Harland & Poston Group acquired the Southport resort last December and now the company has revealed plans to roll out an investment programme that will see 106 bedrooms refurbished and upgrades made to the hotel’s F&B offerings, events spaces and fitness facilities.
The redevelopment plan also includes the construction of a new standalone wedding venue with 24 lodges.
The company is understood to be looking for £27m to help fund the expansion, and as a result, is opening Formby Hall to public investment offering investors ‘solid, secured returns in a landmark property’.
The four-star hotel and spa currently comprises 76 bedrooms, an 18-hole championship golf course, nine-hole Woodhey Dunes course and a PGA Academy.
Harland and Poston was founded by David Poston and Gary Harland. CEO David Poston said: “Opening Formby Hall Golf Resort & Spa to public investment represents a strategic milestone. It allows us to democratise access to prime hospitality development opportunities typically exclusive to institutional investors. This approach is transformative for our business and game-changing for investors seeking solid, secured returns in a landmark property.
“Additionally, we are excited to announce further projects in the UK soon, reinforcing our commitment to reshaping the hospitality landscape.”