26th July 2019
Martin’s Properties, a leading property investment and development company based in Central London, operating throughout the South of England, has today announced a financing deal with Canada Life Investments, providing a £30m fixed rate loan expiring in 2034 at a highly competitive rate. Established as a family business in 1946 the company has grown to become one of the largest property portfolio owners in Kensington and Chelsea and continues to expand its portfolio across London and the South East.
Richard Bourne, Managing Director Martin Properties comments: “We are very pleased to expand our relationship with Canada Life Investments, this commitment provides us with the flexibility and opportunity to continue to grow and diversify our portfolio into new sectors and wider areas. It’s an interesting time in the market and we want to have financial firepower available to deploy. We are actively looking to invest in regional markets across the South of England with good rental and capital growth potential, into assets which offer a mixture of asset management and development in order to deliver our growth aspirations”.
Bob Tattar, Finance Director Martin’s Properties comments: “It was a pleasure putting this deal in place with Canada Life Investments. The new facility takes our borrowing up to 25% LTV which is still conservative but gives us the additional firepower required”
Tom Martin, Chairman Martin’s Properties comments: “This is a great achievement by the team and provides us with the building blocks needed to continue to grow our business through a diversified mix of investment.”
Nicholas Bent, Head of Real Estate Finance Canada Life Investments comments:“We are delighted to have the opportunity to extend our excellent relationship with such an experienced investor with a proven track record in the market. The new facility is secured against high quality real estate assets which diversifies our existing portfolio with Martin’s Properties, whilst helping to achieve our target of growing our commercial property loan book.”