Peel’s £14m Nationwide deal

MEDIACity:uk developer and Trafford Centre owner Peel Group has secured a £14.7 funding line from Nationwide Commercial.

The new facility complements an existing relationship between Peel and the mutual.

Privately-owned, Manchester-based Peel is also behind two £10bn regeneration schemes, Liverpool Waters and Wirral Waters, which will transform the face of the region.

Founder and chairman John Whittaker has been in China this week with Prime Minister David Cameron and other major business leaders as he seeks funding from China for the two developments, jointly known as Peel Waters.

Commenting on the new funding, Steve Luty, regional director at Nationwide Commercial in the North said: “The Peel Group is a fantastic business and we’re delighted to have been able to support it through the provision of this flexible, bespoke financial solution and we’re committed to our on-going relationship with Peel.”

Phil Wilson of the Peel Group, added:  “These are exciting times and, despite the tough economic conditions, the business is continuing to grow and that’s why having the right financial partners working with us is crucial.”