Handelsbanken backs Priory project with £6.4m

A MAJOR redevelopment project at one of the Birmingham’s best-known sporting venues has been boosted by a £6.4m loan from Swedish institute Handelsbanken.

The bank’s Birmingham office has agreed the funding with Edgbaston Priory Club which is building a new tennis show court, gym, squash courts, indoor tennis centre and extending its clubhouse.

The multi-million redevelopment plans, which have been backed with £5m by the Lawn Tennis Association, will help the club secure the pre-Wimbledon AEGON Classic tennis tournament.

The women’s event is estimated to be worth £9m to the local economy each year.

Rugby-based construction contractor Morgan Sindall started work last month on the first phase of the project which is due for completion in May 2013.

Graham Crookson, corporate manager at Handelsbanken Birmingham, said: “This is a fantastic development not only for the club but for Birmingham also as Edgbaston Priory is committed to developing tennis in the wider community.

“We are delighted and proud to have been selected by Edgbaston Priory Club to be its new banking partner.”