ICG-Longbow backs Royale with £200m loan

ICG-Longbow has completed a £200m refinancing with bungalow developer Royale. The debt is the largest loan from ICG-Longbow to date. It has enabled the developer to consolidate its previous loans in one facility. Royale creates luxury accommodation with bespoke fittings for the over 45s, set within secure gated communities. It has developments in more than 30 locations, largely in the south of England, including Herne Bay, the New Forest, Christchurch Marina and Ringwood. Kevin Crowley, director at ICG-Longbow, said: “Royale is an outstanding business operating in a sector which we believe has significant potential due to the underlying demographic, which is due to grow at twice the rate of the wider population over the next 10 years.” Robert Bull, director at Royale, said: “This is a family business that was started 70 years ago by my father, John, and I am delighted that this financing will allow us to institutionalise our business and create a legacy for future generations.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette