A £100,000 SWIF loan has seen a traditional Devon longhouse restored and transformed into luxury visitor accommodation
A traditional Devon longhouse has been restored and refurbished to welcome visitors with the help of a £100,000 loan delivered by the British Business Bank’s South West Investment Fund via fund manager SWIG Finance.
Close to the North Devon coast and on the fringes of Exmoor, Longlands, a 18-acre holiday complex now boasts a farmhouse capable of accommodating family and friend groups of up to 20 people. It welcomed its first guests at the end of May, and bookings are coming in thick and fast.
The £200m South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead. SWIG Finance manages the smaller loans part of the fund.
Sarah Roberts and Barak Fave had run holiday lets in Nottinghamshire but were ready to take on a new challenge and scoured England and Wales for their next chapter. “We must have looked at 100 holiday complexes, and when we came to North Devon in June 2023, we based ourselves at Longlands,” Sarah recalls. “It was on the market, and we fell in love with the place. With its secret valley, woodland walks, private lake and hot tub, it was like a little piece of heaven on earth.”
The couple sold their Notthinghamshire business and became the new owners of Longlands in May 2024. Once settled in, they set about enhancing the offer.
“Longlands was predominantly known for its luxury glamping lodges, which were open seasonally from March to October,” says Sarah. “We’d previously worked 365 days a year, and found the winter months to be quite busy. Large parties like to go away for Christmas because not everyone has a house big enough to accommodate 20 people, and 70th birthdays still happen in January.”
The South West Investment Fund loan was used to refurbish some under-utilised farm buildings and the huge farmhouse, a Devon longhouse. Sarah and Barak reconfigured the floorplan of the longhouse to take it back to something more sympathetic, and more versatile.
“It had lots of tiny rooms, and the space wasn’t very usable,” says Sarah. “We aimed to create big, beautiful, bright, open spaces suitable for multi-generational family get-togethers, or special occasions for large groups of friends. We turned to local traders where possible, and used lots of wood and natural stone in keeping with the setting. The results turned out better than we dared to dream.”
SWIG Finance was recommended by broker Adam Cooksley of Navigate Commercial Finance, and was a perfect fit for the couple. “Raising finance for the farmhouse was difficult because traditional lenders like to see a track record of financial performance, and with the farmhouse this was all based on forecast,” explains Sarah.
“It was apparent from the outset that SWIG and the South West Investment Fund worked very differently. Business manager Rachael Taylor came out to see us to interrogate the forecast, understand our vision and get a feel for whether the team were capable of delivering it.
“Our location is breathtaking, and you can’t convey that in a business plan; visiting us helped Rachael gain confidence in us. We don’t believe a traditional lender would have taken the time to build a relationship in this way.”
The revamp has enabled them to offer year-round employment on site, and created business for a variety of local suppliers of food, drink and experiences.
Future plans include a similar refresh for further disused farm buildings. SWIG Finance business manager Rachael Taylor said: “Sarah and Barak are passionate about growing the business and supporting their local community. They had a great insight into the holiday letting business and Longlands is an absolutely gorgeous part of the world. Having seen it for myself, I have no doubt they will be deluged by repeat customers. I wish them the very best of luck in their venture.”
Dave Tindall, Senior Investment Manager at the British Business Bank said: “It’s great to see how the South West Investment Fund is enabling passionate entrepreneurs like Sarah and Barak to realise their vision and breathe new life into a tourism business. Longlands is a good example of how targeted investment can create local jobs and contribute to the local rural economy all year round.”
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It is increasing the supply and diversity of early-stage finance, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
About SWIG Finance
SWIG Finance is a people-based lender that provides loans and support to help smaller businesses in the South and West Country grow. We base our lending decisions on potential rather than collateral, which means that we can often support businesses when others can't.
We’re growing every year. In 2024/25, we lent £14.8m to 501 businesses, helping to create and secure over 1,272 jobs and generate £75.7m in social impact. Download the report here.
If you’d like an informal chat about your funding requirements, get in touch with our friendly and professional team to see how we can help: info@swigfinance.co.uk / 01872 227 930
