Industrial park owner Spencer Holdings has secured £200m funding from Bank of Scotland Real Estate for major national expansion.
Knowsley-based Spencer Holdings will use the money to grow its portfolio by half.
It is planning to target a number of strategic opportunities to increase its holdings from 4m sq ft to 6m sq ft across the UK. Its current portfolio comprises more than 800 tenants nationwide.
Gordon Clements, director of real estate at Bank of Scotland Corporate in Liverpool said: ‘The performance of Spencer Holding’s existing portfolio and its well-structured growth strategy clearly demonstrate its ability to achieve its 50% growth target.’
Jim Spencer, chairman of Spencer Holdings, said: ‘We have worked hand in hand with Bank of Scotland Liverpool for a number of years, during which time it has played an instrumental role in strengthening Spencer Holding’s presence in the highly competitive commercial property market.
'We now have sufficient resources to complete our strategic investment programme.’
Bank of Scotland finance was arranged by Gordon Clements and associate director Alastair Pike.