Grovemere Property secures long-term funding from Santander
Grovemere Property, the Cambridge-based property investment and development company, has secured long term debt funding from Santander Corporate Banking to support its property investment activities.
Grovemere was founded in 1924 by the Brand family as an agricultural merchant. It acquired its main property asset, the former airfield Lancaster Way, in the late 1950s. The company divested this side of the businesses to focus on its property business, Grovemere Property, in the 1990s.
Grovemere is still predominantly a family-run business today, largely focussed on industrial sites in Cambridgeshire and Norfolk.
David Brand, director of Grovemere Property, says: “I am delighted to have secured this new long term finance package from Santander to assist with the continued development of our property portfolio. Having a reliable, locally-based banking team is important to my business and the team at Santander have demonstrated both a real commitment to, and thorough knowledge of, both the local area and the sector. I look forward to deepening my relationship with them in the future.”
James Wade, relationship director for Santander Corporate Banking, says: “We are delighted to be able to help with the financing of Grovemere’s property portfolio and with the confidence that this long established company has placed in Santander to become its full banking partner. This is a great opportunity for us and we look forward to working closely with the company’s senior management and supporting them for many years to come.”
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