Santander helps Glasgow property investment company expand portfolio
Glasgow-based property investment company Ancaster Court has agreed the purchase of two commercial investment properties in Edinburgh, currently let to Save The Children and a local independent retailer, following a new GBP620,000 finance package from Santander Corporate Banking.
Ancaster Court is a property investment company based in Glasgow and is run by Andrew Lythgoe, who has vast experience in the commercial property market in Scotland and runs his own property consultancy business.
The new deal with Santander has enabled Ancaster Court to purchase 29A Cockburn Street in the heart of Edinburgh, occupied by independent ladies clothing retailer Cookie Clothing, and 390 Morningside Road, home to a Save The Children charity shop.
The financial package included the refinance of the company’s existing borrowings held with a competitor.
Lythgoe says: “The latest additions to our portfolio are significant and we are delighted that Santander could assist in both acquisitions. Santander has been involved in the process since day one, working with us to understand our property investment strategy as well as our ambitions.”
Lee Waldron, relationship director for Santander Corporate Banking, says: “We are glad to support Ancaster Court, an established property investment company based in Glasgow, and one that we are working closely with in the Scottish property market, and we look forward to continuing to develop this relationship in the future. At Santander, we want to support local businesses with strong leaders and I think our agreement with Andrew at Ancaster Court is an excellent example of this.”
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