The listed company run by Robert Ware, Conygar Investment, has secured a new £20m debt facility from Barclays to pursue investment and development opportunities.
The four-year loan is secured on the nine properties from the Edinmore portfolio bought in December for £39.8m.
Conygar, which has a £178m portfolio, has hedged the loan, resulting in a total interest cost of 4.5% including margin. Its total group bank debt is now £81m, reflecting a 46% loan to value, excluding £35m cash balances.
