Sandyford Properties, a UK company that deals with multi-let industrial properties, has secured a new debt facility of £20m from Barclays for a term of up to five years. With this revolving credit facility, Sandyford Properties intends to more than double its multi-let industrial portfolio in the next five years, by being able to secure new acquisitions with greater speed. Their immediate focus is on acquiring single multi-let industrial assets or portfolios in the Midlands and North West, with lot sizes of £2 – £20m.
Currently, their portfolio comprises 1.5 million sq ft of predominantly multi-let industrial space in Staffordshire and Cheshire. The company aims to expand its portfolio and seek opportunities in the market with the help of the funding. Hill Dickinson advised Sandyford Properties on the debt facility.
Paul Brindley, Managing Director of Sandyford Properties, said, “This new facility significantly strengthens our firepower and will enable us to double the size of our portfolio in the next five years. It reflects the appetite from the banking sector for multi-let industrial as an asset class”.
The debt facility was secured after a keen bidding process. David Carter, Chairman of Sandyford Properties explains, “The ability to demonstrate a consistent track record in the sector and a clear business focus enabled us to secure very competitive terms from the selected lender, Barclays”.
In conclusion, this newly secured debt facility strengthens Sandyford Properties’ portoflio and enables them to further expand their multi-let industrial offerings. The company’s progress reflects the keen interest of the banking sector in multi-let industrial properties as an asset class.
Sandyford Properties, a UK company that deals with multi-let industrial properties, has secured a new debt facility of £20m from Barclays for a term of up to five years. With this revolving credit facility, Sandyford Properties intends to more than double its multi-let industrial portfolio in the next five years, by being able to secure new acquisitions with greater speed. Their immediate focus is on acquiring single multi-let industrial assets or portfolios in the Midlands and North West, with lot sizes of £2 – £20m.
Currently, their portfolio comprises 1.5 million sq ft of predominantly multi-let industrial space in Staffordshire and Cheshire. The company aims to expand its portfolio and seek opportunities in the market with the help of the funding. Hill Dickinson advised Sandyford Properties on the debt facility.
Paul Brindley, Managing Director of Sandyford Properties, said, “This new facility significantly strengthens our firepower and will enable us to double the size of our portfolio in the next five years. It reflects the appetite from the banking sector for multi-let industrial as an asset class”.
The debt facility was secured after a keen bidding process. David Carter, Chairman of Sandyford Properties explains, “The ability to demonstrate a consistent track record in the sector and a clear business focus enabled us to secure very competitive terms from the selected lender, Barclays”.
In conclusion, this newly secured debt facility strengthens Sandyford Properties’ portoflio and enables them to further expand their multi-let industrial offerings. The company’s progress reflects the keen interest of the banking sector in multi-let industrial properties as an asset class.