£43m refinance for Hollins Murray Group

REGIONAL landlord the Hollins Murray Group has agreed a £43.6m finance deal with Santander Corporate & Commercial.

Altincham-based Hollins Murray has around 50 properties worth £100m including a number of retail interests in Flint, Ashton-in-Makerfield and Prestwich.

The five-year Santander deal has replaced a facility with the Royal Bank of Scotland.

Chief executive Nick Casson said: “This new banking relationship has enabled us to drastically reduce HMG’s interest cost and provides us with a better opportunity to take advantage of improving conditions in the commercial property market.  

“Our business strategy is based on investing for capital and rental growth through hands-on, proactive management and identifying opportunities for adding real value either via our existing portfolio or by way of new acquisitions.”

Matt Jones, Santander’s relationship director, said: “The HMG portfolio comprises a well-balanced and robust mix of property assets, with limited void exposure and a low loan to value ratio. We are absolutely delighted to be part of this new relationship and to be able to support the Hollins Murray Group’s UK business aspirations.”