Cheshire-based developer Gladman has secured £50m of syndicated finance from The Co-operative Bank and RBS.
The new facilities will be used to build retirement apartments under Gladman’s Adlington brand and continued development of offices under the Gladman brand.
Steven Peck, property finance manager at The Co-operative Bank’s Manchester property team, said: “Gladman has been a client of the bank for over seven years and our ongoing funding of the business is proof positive of the benefits of our strategy of developing long-term relationships.
“This funding arrangement shows that even in today’s uncertain economic climate, we’re still very much open for business and lending to quality businesses with impressive corporate strategies, such as Gladman.”
daniel.cunningham@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
