The transformation of the former YHA Dufton is complete, with the opening of Redstones as stylish and contemporary accommodation.
Redstones boasts views of Dufton Pike and the village green in the unspoiled Eden Valley village of Dufton. Redstones has been developed and launched by entrepreneur Andy Barr of Barrnon Media, using a six-figure investment from NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II). The project also secured an additional six-figure loan facility from Barclays.
The funding has helped to bring a vacant property to life, creating new, local jobs and boosting the local economy. Redstones has 11 stylish and contemporary bedrooms complemented by a cosy lounge. Nestled in an Area of Outstanding Natural Beauty, Redstones is situated on the Pennine Way and the Cumbria Cycle Way. It is close to the historic market towns of Appleby and Penrith.
Redstones is the latest venture from local businessman Andy Barr, who is the publisher of several regional newspapers including the Cumberland and Westmorland Herald, Keswick Reminder and Teesdale Mercury. He also owns a bespoke engineering services business which works in industries including marine and agricultural, nuclear decommissioning and oil and gas.
Andy said: “From the start our aim was to regenerate a property that has been empty for some time and deliver high-quality accommodation that will attract further tourism to the area and create new jobs. I’m passionate about supporting local people and making a significant impact on the economy. We’re excited to have opened the doors to Redstones for guests to enjoy.
"The financial backing from NPIF II - FW Capital and Barclays has been instrumental in the successful completion of the project. Thanks to Alistair Igo at FW Capital and the team at Barclays for their valuable support.”
Alistair Igo, Portfolio Executive at FW Capital said: “Andy and the team at Redstones should be very proud of their achievements. It is an impressive addition to the local area, providing an excellent base for visitors of all ages seeking to enjoy beautiful scenery and a range of activities. The transformation of the former YHA into high quality accommodation will boost the local economy and is a great example of how NPIF II funding can turn business ambitions into a reality.”
Sue Barnard, Senior Investment Manager at the British Business Bank, said: “Cumbria has often faced challenges in accessing the kind of finance that helps businesses grow and thrive. Through NPIF II, we’re addressing that gap enabling ambitious local entrepreneurs like Andy to revitalise underused assets, create high-quality jobs, and deliver lasting impact in their communities. Projects like Redstones are a great example of how targeted investment can unlock potential in historically underserved areas and contribute meaningfully to the regional economy.”
Scott Davidson, Relationship Manager at Barclays Business Banking, said: "Barclays is proud to have played a role in the opening of Redstones and are excited to see the project come to life, creating new jobs and boosting the local economy. This lending underlines our commitment to supporting local businesses and fostering economic growth in the region, and shows our £22bn Business Prosperity Fund in action."
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England 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.
The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England, with some flexibility to lend across the North.
