Property group secures funding to kickstart work on retail development

DRANSFIELD Properties has secured £2.37m of funding to help with its new Hull retail development.

The scheme, in the Mount Pleasant area of east Hull, is being delivered by the company’s Mount Pleasant Urban Regeneration and will see up to 50 new jobs created in the local area. The new retail development will be anchored by a 25,000 sq ft B&M store with a garden centre, Subway are also taking a unit at the new development and three further new retail units are being created. Two empty shops fronting Holderness Road are being refurbished and brought back into use as part of the overall project. The complex also includes 90 car parking spaces.
 
It is hoped the new site will be open for business by summer 2015.
 
Dransfield Properties secured the funding from the Royal Bank of Scotland’s (RBS) Real Estate business.

 Mark Dransfield, managing director of Dransfield Properties, said: “There is a long held aspiration for a new development on this site in East Hull and we are delighted to be in a place where we can begin building this facility.”
  
David Salisbury, senior director of Real Estate at RBS, said: “Dransfield Properties has a proven track record in creating developments that benefit local communities. The new retail complex in East Hull will not only create jobs but support regeneration in this area. I am delighted to support Dransfield Properties on this new funding arrangement and look forward to working with the company in the future.”