Insurance News Archive

Commercial property firm secures funding for growth

Spencer Holdings, one of the largest industrial park owners in the UK has secured £200 million of debt funding which it will use to expand across the UK.

Bank of Scotland Real Estate, Liverpool is to hand over the funds that will see Spencer increase its holdings by 50 per cent.

Currently, the firms portfolio covers four million square feet and it plans to increase that to six million at the rate of one million square feet a year.

Jim Spencer, chairman and founder of Spencer Holdings, told local paper the Liverpool Daily Post:: "We now have sufficient resources to complete our strategic investment programme and will continue to focus on offering quality properties, on flexible terms, in prime locations at highly competitive rents."

Gordon Clements, who arranged the Bank of Scotland finance, said: "The performance of Spencer Holdings' existing portfolio and its well-structured growth strategy clearly demonstrate its ability to achieve its 50 per cent growth target."

19 Dec 2007