RBS provides £35m funding facility to Marshall CDP

RBS provides £35m funding facility to Marshall CDP

Commercial Development Projects (Marshall CDP) has agreed a £35m funding package with Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB).

The deal will provide on-going credit and help finance two commercial real estate development opportunities in Manchester and Warrington, West Yorkshire, UK.

Based in Elland in West Yorkshire, Marshall CDP is the development arm of the Marshall Construction Group, which also includes Marshall (Building Contractors) Ltd and Marshall (Joinery) Ltd. The group employs 212 staff across the UK, with an annual turnover of £111m in 2011.

Marshall CDP specialises in developments within the commercial sector, including in- and out-of-town retail schemes, offices, industrial premises and leisure schemes throughout the UK. It also holds a strong portfolio of land which it has set aside for future projects.

The funding from RBS CIB comprises a £15m revolving credit facility, together with separate £15m and £5m development facilities. The £15m development package will be used to fund a 120,000 square foot office scheme in Manchester, while the £5m development facility will be used to assist with a 50,000 square foot office scheme in Warrington.

"We have banked with Royal Bank of Scotland for a number of years, and once again they have provided us with a competitive package which will allow us to pursue our business agenda. We have two exciting schemes in Manchester and Warrington and are grateful for the financial assistance from RBS to take these forward."

Simon Marshall, Group managing director, at Marshall CDP

"Marshall CPD is a long-standing client of ours, and we are delighted to support them in these high-profile projects. They are well placed to capitalise on an upturn in the economy and increase in demand for office space. We look forward to continuing our work with the company and building upon our strong relationship."

Andrew Dexter, director at RBS CIB Real Estate Finance North


Latest news

Royal Bank of Scotland hosts ‘Easy Wins Live’ event

The event explored today’s ‘always on’ world and the pressure Scots face as they struggle to balance life inside and outside of work.

To win the fight against fraud and scams, it is vital to educate young people.

Primary school children in Currie, Edinburgh put on their detective hats last week to learn more about fraud and scams thanks to the Royal Bank of Scotland MoneySense programme. Les Matheson, CEO of Personal Banking, tells us why it’s so important to financially educate young people.

New NatWest debit cards now accessible for all customers

New card features are being rolled out from today with all cards having a notch and raised dots.

Set Tab for lightbox