Student accommodation provider unveils ambitious growth plans
A YORKSHIRE-based student accommodation specialist has unveiled a five-year expansion plan which could see the company double in size over the next five years as it targets acquisitions and new assets across the UK.
The Kexgill Group, based at Hull, already has nine branches throughout the UK as well as a presence in Germany. Overall, the firm’s total assets are valued in excess of £100m.
To support its five-year growth plan, The Kexgill Group recently changed banking partner to Santander Corporate & Commercial. The bank has refinanced over £6m in lending facilities which will allow the group to fully support its current portfolio of properties as well as invest for growth.
Manjit Virdee and Karen Crutchley, solicitors at Leeds-based law firm Schofield Sweeney, advised Santander Corporate & Commercial.
Manjit Virdee, associate Schofield Sweeney, said: “We worked closely with Santander Corporate & Commercial and had a clear understanding of the transaction. We provided an efficient service, meeting all of the practical requirements. It is always a pleasure to work which Mick and the Santander team, and we wish the Kexgill Group all the best with regards to their expansion plans.”
Richard Stott, managing director of Kexgill Group, said: “We have swept the board in this year’s awards across our sector so it’s the right time to be announcing our expansion plans. We will be targeting all areas in the UK and we see no reason why we should not be able to double our size over the next five years.”
Mick Graham, real estate director of Santander Corporate & Commercial, added: “We’re delighted to be supporting the Kexgill Group at such a key time in the company’s growth. This is a fantastic opportunity to support a vibrant business which started in the Yorkshire area. The funding from Santander provides a very secure, long-term footing for the Kexgill group.”
