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

Santander helps property firm expand portfolio in County Durham

Santander helps property firm expand portfolio in County Durham

A Glasgow property investment company has been able to expand, thanks to a cash injection from Santander’s Corporate Banking arm.

 

An £850,000 property finance package has enabled the Glasgow-based Hamilton Capital Partners (HCP) to secure a commercial property in the North of England which is currently let to the Department of Work & Pensions (DWP).

With years of experience in corporate finance and property investment, the Scottish investment company has been involved in several commercial property deals over recent years.

Santander’s funding has gone towards the purchase of Phase II, Lighthouse View, a relatively new 31,000 sq. ft premises which is based on the Spectrum Business Park in Seaham, just to the south of Sunderland. The property, currently used by DWP for administrative issues regarding pensions, will be purchased through a subsidiary called HCP Durham Limited.

Durham, Sunderland, and nearby Hartlepool are all connected by direct rail links to London, and the site is within proximity of the A1 and Newcastle International Airport.

Spectrum Business Park, Seaham, Country Durham

Source: Spectrum / PlanetObserver

Stephen Kelly of Hamilton Capital Partners, described the latest addition to the firm’s portfolio as "significant".

"Santander has been involved in the process since day one, working closely with us to understand our property investment strategy as well as our ambitions in respect of this particular property," he said.

Lee Waldron, Relationship Director for Santander Corporate Banking in Glasgow, said: "We are glad to once again support HCP, a well established, highly regarded and successful Scottish property investment company.

"We know HCP are still expanding their business and we are very keen to continue working closely with them over the next few years. We already have a number of new projects we are looking at with them and we look forward to continuing to develop this relationship in the future."

Are you looking to expand with a commercial finance package? Commercial Finance Group could help to make this happen. Contact us today!

Friday, 14 September 2012 11:49
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