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

Santander funds property investment in Edinburgh

Santander funds property investment in Edinburgh

Ancaster Court, a property-investment company based in Glasgow, has secured the acquisition of two commercial investment properties in Edinburgh, thanks to help from Santander.

A property finance package worth £620,000 from Santander’s Corporate Banking arm has allowed Ancaster Court to secure 29A Cockburn Street, located in central Edinburgh and currently occupied by fashion retailer Cookie Clothing, and 390 Morningside Road, which currently houses a charity shop run by Save the Children.

The deal also includes a refinancing agreement for an existing loan held elsewhere.

Ancaster Court is run by Andrew Lythgoe, who runs his own property consultancy business and has vast experience in the commercial property sector.

Mr Lythgoe said of the deal: "The latest additions to our portfolio are significant and we are delighted that Santander could assist in both acquisitions. Santander has been involved in the process since day one, working with us to understand our property investment strategy as well as our ambitions."

Lee Waldron, Santander’s Corporate Relationship Director, said: "We are glad to support Ancaster Court, an established property investment company based in Glasgow, and one that we are working closely with in the Scottish property market, and we look forward to continuing to develop this relationship in the future."

This is a further positive sign for investment opportunities in Scotland, following the announcement last week that the Co-operative Bank was providing over £4 million in funding to help a community development for renewable energy in the Scottish borders (read more).

Commercial Finance Group specialises in sourcing funding for commercial property. Get in touch today and find out more.

Tuesday, 16 October 2012 14:39
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