Gleeson banks on the Co-op

URBAN regeneration and strategic land specialist MJ Gleeson Group has moved its full banking business to The Co-operative Bank.

The listed company, which was founded in Sheffield and has an office in Bury, is being provided with an undisclosed working capital facility by the Manchester-based bank.

Gleeson specialises in housebuilding on brownfield land in the north of England with a particular emphasis on low cost homes, along with enhancing the value of land options by achieving residential planning consents on greenfield sites.

Gleeson was established by Michael Joseph Gleeson in 1903 and has grown to boast more than 160 staff.

Alan Martin, chief financial officer of MJ Gleeson Group, said: “We have been extremely impressed with the bank’s relationship-based approach which is tailored to providing a service that meets the needs of our group of companies.”

John Franklin, senior corporate manager at The Co-operative Bank, said:
“Our approach of building long-term, supportive partnerships with our business customers is resonating with companies whether small, medium or large, like Gleeson.”

Legal work on behalf of the lender was handled by Dean Gormley of Irwin Mitchell.

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