Squarestone gets funding lift from RBS and Barclays
Property investment and development management company Squarestone has been given a £125 million boost to drive forward its growth plans.
The loan facility provided by Royal Bank of Scotland and Barclays will enable the firm to continue targeting “quality, Uk-based commercial property assets, with strong income profiles and clear and deliverable capital growth opportunities”.
Squarestone operates across the UK, with offices in Edinburgh, Manchester and London. It now owns and manages 26 assets with a gross asset value of about £210m. This is set to grow following the new finance facility, as well as with continued shareholder support.
Hugo Denée, the firm’s managing director, said: “We are delighted with the new facility from Barclays and RBS. Both banks have demonstrated a deep understanding of our business and strategy and have been able to provide very high-quality delivery on the ground, working at considerable pace throughout.”