Westrock Capital advises on combined £22m deals with Shawbrook

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  • 14/07/2020
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Westrock Capital advises on combined £22m deals with Shawbrook
Shawbrook’s commercial and short-term team have worked with broker Westrock Capital to deliver two large loans.

 

The client wanted to secure funding for a vacant office building in Watford once owned by a retailer, and a private rental sector (PRS) apartment scheme in Kent. The respective loan amounts required totalled £13m and £9m. 

The cases were completed and funds were released within two months. 

The £9m loan on the PRS apartment scheme was provided on an interest-only five-year fix while the £13m for the office building was released on an interest-only basis via a 12-month short-term loan.  

Westley Richards, director at Westrock Capital, said: “I was very impressed with the bank’s ability and resolve to get these transactions completed in such difficult market conditions.

“Each loan had its challenges, but our team worked hard to ensure each transaction completed despite the complications posed by the Covid-19 lockdown. 

Emma Cox (pictured), sales director at Shawbrook Bank, added: “We are delighted that we have successfully enabled the client to secure two great investment opportunities.  

The current circumstances created hurdles that both Shawbrook and Westrock Capital had to navigate, but the two teams worked brilliantly together to ensure the client received the funding required within the deadline.”

 

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