Freight Island has secured £3 million in funding as it prepares to take its hospitality and entertainment model into more locations across the UK and Ireland. The financing comes through the Investment Fund for Northern Ireland, which is operated by the British Business Bank and managed by Whiterock. It represents the largest debt investment made through the fund to date.
The money is supporting Freight Island’s Newcastle development at the former Debenhams site in Eldon Square, where the operator is turning a former department store into a large-scale food, drink and entertainment destination. The Newcastle venue includes a 12-kitchen food market and live-fire restaurant WYLD, with a further music venue planned as the site develops. Around 300 jobs are expected to be supported by the project.
Dan Morris, Managing Director of Freight Island, said:
“Our mission is to create one of the most exciting hospitality and entertainment spaces in the country. The scale and flexibility of the venue allows us to host everything from relaxed daytime dining to major live events and late-night programming within a single destination.”
Jamie Cairnduff, Head of Portfolio at Whiterock, said:
“This is an exciting investment for Whiterock and reflects our continued commitment to helping Northern Ireland founders scale ambitious businesses and become leaders in their industries.”
Sue Barnard, Senior Investment Manager at the British Business Bank, added:
“This is the largest debt investment made through the Investment Fund for Northern Ireland and it reflects the scale of ambition behind Freight Island’s growth. Freight Island has grown into one of the UK’s leading social dining and entertainment brands, with venues now spanning Manchester, Leeds, Brixton and Newcastle. Supporting businesses at this stage of expansion is exactly why the Fund was established.”
Freight Island now has venues spanning Manchester, Leeds, Brixton and Newcastle. Phase two of its Leeds development is planned for 2027, with further growth across the UK and Ireland also on the agenda.
