Yorkshire Bank Backs Shopping Centre Aquisition

13/05/08

Yorkshire Bank’s Leeds Financial Solutions Centre (FSC) has helped London-based property company the GHP Group acquire a £19m Derby shopping centre.

A total of £16.1m funding has been provided by Yorkshire Bank’s Structured Property Finance Team towards the acquisition of the multi-let Audley Centre in Derby city centre.

The Audley Centre, next to the recently-completed Westfield Eagle Centre, generates rental income of £1.393m a year and has tenants including 02, Anne Summers, Poundland, Phones 4U, Carphone Warehouse and Evans

A partner in Yorkshire Bank’s Leeds-based Structured Property Finance Team, Michael Hardman, says: “While the property investment market is going through a testing time there are still good value deals, such as this, available for astute investors and our team remains very busy.”