Investors expand portfolio with Cambridge & Counties commercial mortgage
Two investors have expanded their portfolio through funding from Cambridge & Counties Bank.
The investors, a husband and wife trading as Staton Young, have purchased the former HMRC office in Derby, which totals 44,415 square foot, spread across five storeys.
The purchase of the site has been supported with a six-figure commercial mortgage from Cambridge & Counties Bank.
Staton Young provides over 250,000 square foot of serviced office space to the small to medium enterprise (SME) market, including The Old Post Office in Derby.
The client was introduced to the bank by Nic Rotton of commercial finance brokers Sterling Commercial Finance.
Jayne Follows, regional director of the midlands and south at Cambridge & Counties Bank, said: “We’re delighted to be supporting Marc and Rebecca Brough as they further expand their diversified portfolio.
“They have an excellent, long-term track record and clearly understand the local market exceptionally well.
“We are highly confident this latest project in Derby will be another exciting addition to their portfolio and a great success.”
Rebecca Brough added: “We continue to see significant development opportunities in Derby and surrounding markets, as indicated by this acquisition of the old HMRC building.
“There is clear demand for high-quality serviced offices, despite the wider environment, and we will continue to seek out further opportunities.
“Cambridge & Counties Bank and Nic Rotton at Sterling Commercial Finance have been highly supportive, offering us a competitive product and service proposition.”