Marshalls secures multi-million pound funding deal for hotel development

THE Marshall Group has secured a funding deal worth more than £29m to aid the development of a new hotel and support its various property schemes across the country.

As part of the funding arrangement, the Elland-based firm has acquired £12.37m for the development of the De Vere Hotel in Edinburgh.

The funding facilities from RBS, which include a £17.5m refinancing package, will also be used to support Marshall’s various retail, office, industrial and leisure development schemes up and down the country.

Marshalls was founded in 1901 when Christopher Hemmingway Marshall set up the thriving building company in West Yorkshire.

The company has been banking with RBS for more than 50 years.

Stuart Heslop, regional managing director RBS real estate finance North and Scotland, said: “We have been working with Marshalls for more than five decades and have developed a unique understanding of their business goals and ambitions.

“They have a clear focus on supporting the communities they operate in. We were delighted to support both the re-financing package and financing for the hotel development, and we wish them all the best for the future.”