"Financing projects from £50,000 to £100 million"

Barclays retail estate offers £20 million to Conygar

Barclays retail estate offers £20 million to Conygar

Barclays Real Estate has offered a funding package worth £20 million to the Conygar Investment Company.

Conygar, a UK based property development group, aims to invest in property where it believes that its expertise can add considerable value.

The finance package is secured on the company’s Edinmore portfolio, which comprises nine properties. It allows Conygar to expand its property investment opportunities.

Robert Ware, Chief Executive of Conygar, expressed his delight at the financing option.

"We are pleased to secure early refinancing of our Edinmore acquisition which releases cash for use elsewhere in our business and we’re delighted that our long standing relationship with an active lender such as Barclays has been extended."

Charles Conway, Director of Barclays Real Estate added: "Our existing relationship with Conygar and understanding of the business enabled us to deliver a financing solution to meet the group’s needs."

Last month, Barclays announced that it was to invest £52 million into the building of a business park in Aberdeen for the energy sector, the first phase of which will be completed by autumn 2013.

Wednesday, 22 August 2012 13:03
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