Entrepreneurs refinance industrial estate with funding from Cambridge & Counties
Two Walsall-based entrepreneurs and brothers, trading as Khera & Khera Ltd, have refinanced a large industrial estate near Telford on a longer-term, more competitively priced commercial mortgage through Cambridge & Counties Bank.
Paul and Lucky Khera were introduced to the bank by commercial broker Dan Ahmed at Midland Bridging Group.
The Telford assets, which cover almost three acres with 49,000 square foot of factory space, are situated in the Halesfield 24 industrial estate, an established hub near the city centre.
Cambridge & Counties said that financing the UK warehousing and logistics sector is a key focus for the bank in 2021.
The bank has rolled out a dedicated commercial loans campaign, aimed at raising awareness of the bank’s competitive lending proposition for investors looking to acquire or develop appropriate assets.
Cambridge & Counties saw a 36% increase in the value of its warehousing loan book in 2020 compared to 2019, with particular growth in the North West, Yorkshire and the East Midlands, and expects demand to remain high as sectors such as retail look for additional warehousing and logistical support.
Paul Khera said: “The support and understanding shown by Cambridge & Counties Bank, as well as Dan Ahmed at Midland Bridging Group, has been key in helping us successfully refinance the industrial asset in Telford on better terms.
“In particular, the strong relationship-based approach and complementary product suite is a real differentiator for the bank.”
Marco Brice, relationship manager at Cambridge & Counties Bank, said: “Helping entrepreneurs and investors such as Paul and Lucky to secure and realise these sorts of refinancing opportunities is central to Cambridge & Counties Banks’ business model and customer approach.
“In particular, we believe we offer a differentiated service and product offering for investors looking to capitalise on demand for warehousing and logistics assets.
“As online retail has grown so has a real need for warehouse and distribution units.
“While giants such as Amazon have long been using this business model, requirements for smaller, agile logistics space have risen too.
“In what is a highly dynamic sector, we are here to help investors meet this demand.”