News £56 million Centreport deal struck
The company behind Goole's biggest development site has agreed a £56 million funding deal.
Capitol Park Goole plc, who are part of the Sterling Capitol group of companies, have come to an agreement with the Bank of Scotland over a loan which will fund the first phase of the development.
Within this phase are the 700,000 square foot Tesco distribution centre, due to be completed soon, and the infrastructure, including the extension of the spine road through to Andersen Road, for the whole site.
The 220-acre site is owned by development agency Yorkshire Forward and will accommodate leisure, office, warehouse and other facilities.
Simon Clarke, of Sterling Capitol, said that the deal was a re-financing project.
Martin Croxen, chief executive of Sterling, added: "We were keen to form a partnership with a forward-thinking financial organisation that has both an unrivalled knowledge of the property market and an excellent track record of helping clients reach the finish line on time.
"Donna [Griffin, director for Bank of Scotland Corporate] and the team have provided a first-class level of support and professionalism and we are extremely confident with our business model for completing this first phase of development."
Published on 9th August 2007 in News.
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