Cornerstone Commercial secures £1.5m for a former Grain Barn converted to a luxurious Holiday Let

The corn crib case study

Luxurious restored Grain Barn on Wiltshire and Somerset Border offering high end Holiday Accommodation for larger groups.

As groups and families look to book Holidays and Short breaks in the UK for 2023, a £2 million property renovation has meant that you can now enjoy a break in the beautiful Wiltshire countryside.

The Corn Crib, situated just outside Bath, has undergone renovation, which has seen the former Grain Barn restored so that it now boasts luxury supersize accommodation for large get-togethers.

The lovingly restored grain barn was once part of the Longleat estate, which is just down the road, so you don’t have to go far for a good day out. There’s plenty more within a short drive – family attractions, activities, towns to browse, country pubs to stop by for lunch, and acres and acres of beautiful open countryside. Bath is less than 30 minutes’ drive away and London is just an hour away by train.

Suitable for large family holidays, to celebrate those significant birthdays and anniversaries, for refined hen weekends, and corporate breaks.

Blockworks, which specialises in large scale conversion projects all over the UK, refinanced the Corn Crib development through Cornerstone Finance Group, which worked to secure long-term funding through the Yorkshire Building Society.

The property has snooze space for 20 guests and room for 10 more, with extra charges applying. There’s plenty to keep everyone occupied – an indoor pool, hot tub and sauna, games area, and barbecue island.

The Corn Crib is set within the Hesdin Estate, where alpacas, goats, miniature pigs and chickens live contentedly on the 20-acre grounds.

The Corn Crib is the third holiday development on this site providing high end luxury accommodation, with the others being Hesdin Hall and Pigertons, which was purchased by family business Blockworks in 2019. In addition to these, Pitmaston is a further property which is situated within walking distance of Worcester City Centre.

Completed in summer 2022 The Corn Crib has now been added to these and is managed through sleeps12.com.

CEO of Blockworks, Jim Jenner, explains:

“With the success of Hesdin Hall & Pigertons the development of The Corn Crib was the natural next step. Despite the challenges of COVID, the forward bookings have already confirmed that the decision to push forward was the right one”

We are now looking forward to completing the next phase on the Hesdin Estate with completion of the Hayo House in 2023.

Ian Pottle, Head of Complex Funding at Cornerstone Commercial Finance, commented:

“Once again, it was a pleasure to work with Jim and his team, who have delivered an incredible product despite the COVID challenges”.

“The key to any project of this size is both control and the ability to provide accurate and quality information. Provision of this by Jim and his team ensured we were able to present and articulate the strength and quality of the case to the funder, ensuring a positive outcome”

“In this instance, we reengaged with Yorkshire Building Society, and whilst normally their maximum loan for a Holiday Let Property is £1m, given clients background/experience and track record we got agreement to fund at £1.5m.”

“By utilising same funder as with Pigertons, and with Valuation and legal team progressing the deal whilst works were still underway, this saw this deal progress to drawdown shortly after the property refurbishment was complete”.

The Corn Crib is a beautiful property that is already fully booked for December 2022 with availability for 2023 going fast.

We are looking forward to working with Jim and the Team again on the Hayo House project.