Peel agrees £205m refinancing with Aviva

PROPERTY giant Peel has agreed a new £205m refinancing of more than 53 of its property assets with Aviva Commercial Finance.

The deal provides Peel with a 20-year senior debt facility which has been secured on a mix of office, industrial, logistics and retail properties across the North West and Scotland.

Peel chairman John Whittaker said: “We are delighted to have a new funding partner in Aviva Commercial Finance.

“We were impressed with the long term view and their hands-on approach in getting the deal done quickly. We look forward to working with Aviva and exploring new opportunities across the group.”

The deal was arranged by specialist broker Bell Capital Partners.