Cowgill Holloway toasts deal rise
Cowgill Holloway has announced it advised on £75m of residential and commercial property transactions in 2014, an increase of 50% on the previous year.
Stuart Stead, partner and head of property and construction at Cowgill Holloway LLP, said: "This last year has seen a true return of the property market and our transactions clearly demonstrate this. I am pleased we have helped developers source funding for new schemes; others to release tied up capital and, through initiatives such as BPRA, kick started the development of otherwise empty buildings for many landlords."
Examples of some of the transactions completed by the team at Cowgill Holloway this year include:
- Refinancing deal to release £1m of equity for Manchester based student home providers NJOY
- Assisted Landmark Investments Group to raise £10m for expansion of its residential and commercial ground rent portfolio
- £4.3m 100% JV funding facility for acquisition and build costs for a new home scheme in South Manchester
- £2m investment finance for a serviced office provider
- Over £4m of bridging finance transactions to assist various clients with refinancing, acquisition and refurbishment funding
- £7.6m senior and stretched senior debt facilities for new home developments in Manchester, Cumbria and the North East
- Debt advisory / consultancy services on over £30m of property transactions across commercial and residential investment, hotel & leisure and student / PRS development
David Rainford, property finance director, Cowgill Holloway stated: "Whilst we've seen a marked uplift in the property market this year, funding and financing availability is still an issue. However, I am very pleased with what we have been able to achieve this last year for our clients.
"Looking forward to 2015, I envisage the upturn will continue and I am optimistic that funding options for both investment and development will increase further and provide greater flexibility."
Cowgill Holloway Property and Construction has offices in Bolton, Manchester and Liverpool. The team advise clients on all aspects of property finance, taxation, compliance and advisory services.
