Hampshire Trust Bank has provided a £5.6m facility to assist with the acquisition and refurbishment of three adjoining Grade II Listed office buildings in Colmore Row and Bennett’s Hill in Birmingham.
The properties are located in the heart of Birmingham’s central business district, close to New Street and Snow Hill train stations and prime retail areas. Cervidae is advising the borrower.
David Alcock, Deputy Managing Director of Property Finance at Hampshire Trust Bank, said: “The people behind Cervidae and the borrower have extensive knowledge and track record of commercial investment and adding value behind them. They are exactly the type of experienced commercial property people that we like to do business with.
“Birmingham has undergone a massive transformation over the past decade and is proving increasingly popular with professionals and investors alike. Indeed, we are seeing a growing number of commercial opportunities across the West Midlands and are focused on providing value-added lending to commercial property professionals across the country.”
A spokesman from Cervidae said: “Opportunities like this in premier locations like Colmore Row are rare and our client jumped at the chance to purchase this site. We are very excited about the development plans and are delighted that Hampshire Trust Bank are partnering us in this.”
Hampshire Trust Bank’s Property Finance division offers financing solutions to experienced property professionals across the UK, with the ideal Property Finance facility being in the £1m to £15m range.
Read more information on Hampshire Trust Bank's Property Finance division.