Metro Bank plc

10/15/2018 | Press release | Distributed by Public on 10/15/2018 08:48

Metro Bank Funds Kingsway Properties' Acquisition Of Listed Shaftesbury Avenue Site

Metro Bank, the revolution in British banking, has today announced it has provided commercial property specialists, Kingsway Properties London, with a £14 million investment facility to support the acquisition of a five-storey office building in central London.

With the bespoke finance package, Kingsway Properties London has been able to acquire Hend House, a 15,000sq ft, grade II listed building on Shaftesbury Avenue, Holborn. The building will house multi-channel communications company, MBA Group's, new London headquarters.

Bachar Aintaoui, Director atKingsway Properties Londonadded: 'Metro Bank applied a collaborative approach to our funding requirements, which in today's complex financial market is refreshing. Metro Bank's friendly, approachable and 'can do' attitude meant the credit approval process was quick and we were able to complete the acquisition of Hend House within our target date. Needless to say, we will be working with Metro Bank again on our future funding needs.'

Mark Stokes, Managing Director Commercial Banking at Metro Bank said: 'We're delighted to have helped Kingsway Properties London secure a prime commercial site. By getting to know Kingsway's business and the people behind it, we have been able to provide them with a bespoke solution to meet their needs. We look forward to strengthening our partnership with the team over the years to come.'

Metro Bank offers tailored commercial banking services, a common-sense approach to lending and a range of cash management solutions. The bank's Real Estate Finance team supports developers and investors active in the UK real estate sector. Each opportunity is reviewed on its individual merit, with the expert team working alongside specialist credit partners and in-house surveyors to provide solutions that complement the customers business plans.