Aldermore completes £7m commercial mortgage for two industrial properties

By Bridging Loan Directory 6th June 2023

Aldermore has provided a £7m commercial mortgage to Yorkshire Property Rentals Limited for two industrial properties located in Cleckheaton and Batley, both to the south of Bradford.

The first property, Scandinavia Mill, in Cleckheaton is a 10.5 acre site that is comprised of industrial and warehouse space, and an office block.

The second property, Smithies Mill, in Batley, is a former mill that has been converted to provide a total of 21 rental units, of which 16 are rented to local businesses.

Both have excellent transport links and are close to both the M62 and M1, which is ideal for their business tenants.

Yorkshire Property Rentals Limited currently has five commercial properties in its portfolio. Founded by John Heeley Townend, he now runs the business with daughter Julia, who manages the properties.

Michael Graham, senior lending manager at Aldermore, said:

“We are delighted to have provided this commercial mortgage to Yorkshire Property Rentals Limited as they continue to offer local businesses great working spaces, supporting the local economy.

Yorkshire Property Rentals Limited are experienced property managers, and with our expertise in the commercial mortgages space, we were able to work together with John and Julia to deliver this deal.

We look forward to strengthening our relationship with the Yorkshire Property Rentals team in the future.”

John Heeley Townend at Yorkshire Property Rentals Limited, said:

“Partnering with Aldermore has allowed us to move forward with our property acquisitions strategy and enhance the current portfolio which will bring incredible value to people and businesses in West Yorkshire.

Aldermore really took the time to understand both our needs and our ambition for the project.

We look forward to a fantastic ongoing relationship.”