Spencer raises £200m from BoS for expansion

Rachael Tinniswood

Knowsley-based Spencer Holdings has raised £200m from Bank of Scotland Real Estate to expand its portfolio by 50% across the UK.

The debt facility will allow the firm to increase its property porfolio from 4m to 6m sq ft.

The financial package means the company can now pursue several key acquisition targets and development projects identified in its strategic investment programme.

Spencer Holdings manages and owns multi-tenanted industrial and commercial estates in activities including manufacturing, warehousing, trade counters and business parks, with 800 tenants nationwide, making it one of the largest industrial park owners in the UK.

The Bank of Scotland finance was arranged by Gordon Clements and associate director Alistair Pike.

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