Hurstwood secures Bank finance for 3 years

Hurstwood Holdings has successfully renewed terms for a debt facility of £90m on committed 3 year terms with The Royal Bank of Scotland, The Co-operative Bank, Santander, Bank of Ireland and Yorkshire Bank. Hurstwood owns over 100 sites in various locations across the North West, Yorkshire and Wales, with over 500 occupier clients.

Chairman Stephen Ashworth is delighted with the news and said “For any business to get committed funding in these difficult times is not easy but even more so in the Property Sector. This is quite an achievement and shows the confidence that the 5 Banks have in Hurstwood and its experienced, capable and loyal team.”

Managing Director Andrew Park added “Whilst this deal is secured for the 3 years, there is still a lot to do and many challenges to face but it provides Hurstwood with the stability to continue with our core principles of investment and even some selective development and to provide an excellent and stable service to our occupier clients.”

Hurstwood relocated to No 1 Marsden Street, Manchester late in 2010, taking the strategic decision to be closer to the professional community enabling the team to focus solely on its property assets, and look at new investment and development opportunities, working alongside banks and other developer investors in joint ventures. Hurstwood continues to have satellite offices in Rossendale and Lancaster and employs 18 staff.

 

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