Colliers Debt Advisory has secured the refinancing of a Scottish portfolio with a gross value of c.£30 million, comprising two student accommodation buildings offering 175 beds, and in excess of 82,000 sq ft of commercial property across a retail park and an industrial unit. Colliers acted on behalf of a private PropCo.
The two student accommodation buildings boast modern fit-outs and best-in-class amenities and are situated in the prime pitch for both the University of Glasgow and University of Edinburgh. The out-of-town retail park provides a good mix of value retail and leisure stores to a wide catchment area, giving rise to strong footfall and demand for the offering, while the industrial shed accommodates mission-critical operations for the occupier.
Laurence Richardson, director in the Debt Advisory team at Colliers, comments: “It was a pleasure to advise our client again on its financing requirements on this sixth occasion. With a good income diversity, strong property fundamentals, and excellent locations, the portfolio afforded an attractive risk profile for a senior finance provider, and we pleased to secure highly competitive debt terms for our client.”
Michael Howard-Johnston, on behalf of the client, adds: “We’re delighted to have refinanced the portfolio on attractive terms and with a new-to-group funding relationship as we embark on the next chapter of growth. The assistance from Collier’s debt advisory was instrumental, not only at the outset during the credit structuring and tendering phase, but also advising at the latter part of the process with lawyers and valuers to achieve a timely completion of the transaction.”
