£20m facility to fuel ambitious plans for industrial property firm

Multi-let industrial property firm Sandyford Properties has secured a £20m revolving credit facility as it looks to double its portfolio over the next five years.

The facility with Barclays is set to enable Sandyford to purchase new assets, in particular single multi-let industrial assets or portfolios in lot sizes of £2 to £20m in the Midlands and North West.

Sandyford’s portfolio currently comprises 1.5m sq ft of predominantly multi-let industrial space in Staffordshire and Cheshire.

Paul Brindley, managing director of Sandyford Properties, said: “This new facility significantly strengthens our firepower and will enable us to double the size of our portfolio in the next five years. It reflects the appetite from the banking sector for multi-let industrial as an asset class”.

David Carter, chairman of Sandyford Properties, said: “This facility forms one of the central planks of our expansion plan and was secured after a keen bidding process. The ability to demonstrate a consistent track record in the sector and a clear business focus enabled us to secure very competitive terms from the selected lender, Barclays”.

Sandyford was advised by Hill Dickinson on the debt facility.