Funding team behind Stoke-on-Trent retail development revealed

Crewe-based property development company Muller Property Group received a £1.6m development loan from PMJ Capital.

The loan funded the construction of a retail development that features a Costa Coffee drive-through, Tesco Express and two further units in Sandyford, Stoke-on-Trent.

The package from Blackburn-based PMJ has funded 100% of the build cost with a GDV of 63% over a 12-month term with the completed unit valued in excess of £2.55m.

The Tesco Express will occupy a 3,500 sq ft convenience retail unit, whilst the further two units are 1,200 sq ft and 500 sq ft.

Phillip Johnston, finance and operations director at Muller said: “We were delighted to sign up both Costa and Tesco as occupants at this scheme and look forward to finalising occupants for the two remaining units.

“The scheme will not only provide regeneration for the area but create many new jobs for the local community.”