Aldermore, the specialist finance lender, has provided a £1.3m commercial development finance loan, for a retail development in the North of England. The loan will enable the construction of two drive-thru units by West Yorkshire-based property developer Cookridge Estates.
The drive thru units, pre-let to Costa Coffee and Burger King, will form part of a larger roadside and retail development. A supermarket is already in place on the site and a petrol station and shop will be added. It is located one mile from Beverley town centre at the roundabout junction of Minster Way, which forms an outer ring road for part of the town.
David Whitehouse, property development manager at Aldermore, said: “This deal is a fantastic example of the work we’re doing in the North of England. The two drive thru units are in a prominent location and within the wider development, there are complementary uses which will all attract customers.”
Iain Bryson, head of property development and specialist property at Aldermore, said: “Aldermore are delighted to be working with Cookridge Estates to deliver this well located pre let commercial property development.”
Duncan Waller, managing director of Cookridge Estates, added: “We’re delighted to work with Aldermore on the final phase of the Minster Way development. Construction is underway for the Costa and the Burger King on time and budget.”
Original article featured here…
Aldermore recently enhanced its residential owner occupied mortgage range with reduced rates and a reintroduction of remortgage products, to support borrowers with less than perfect credit and also those who have complex needs.