Melrose lines up £5m refinancing

By Bridging Loan Directory -

 

Blackpool property company Melrose Investments has completed a £5m funding package according to BusinessDesk.com.

The group operates a portfolio of more than 100 residential and commercial units, including the 200-year-old Marsh Mill craft village and office complex in Wyre.

Melrose has re-mortgaged with the Lytham branch of Handelsbanken. The firm was advised by the commercial property team at law firm Napthens in Blackpool.

Melrose’s finance director Russell Dawson said:

“Melrose already has a very solid base and we needed some flexibility to continue our growth strategy which this new package supplies.”

Chris Strahan, branch manager for Handelsbanken in Lytham, said:

“We are excited to be working with such a solid and well established local business whose focus on providing outstanding service to its customers mirrors our own.”

The company employs 10 staff at its headquarters, with a further 50-60 during construction projects, plus subcontractors.