Melrose Group plans for growth with £5m funding

Blackpool property company Melrose Investments Ltd has completed a £5million funding package with assistance from Fylde Coast advisors.

The property group, founded 20 years ago, operates a portfolio of more than 100 residential and commercial units. These include the 200-year-old Marsh Mill in Wyre, a restored mill complex which is now operated as a craft village and office complex.

With assistance from the commercial property team at Napthens solicitors in Blackpool, and the Lytham branch of Handelsbanken, Melrose Investments, based at the Whitehills business park in Blackpool, secured the re-mortgaging package which will allow it to pursue future growth plans.

[caption id="attachment_21339" align="f-align-medium-right f-align-center" width="307"]Martin Long, Napthens Martin Long, Napthens[/caption]

Martin Long, Commercial Property partner and chairman of Napthens, said: “Melrose Investments boasts an expanding portfolio of quality investment properties, and this funding will give the business a platform for its exciting growth plans.” Chris Strahan, branch manager for Handelsbanken in Lytham, added: “We are delighted to have completed the Melrose re-finance. We are excited to be working with such a solid and well established local business whose focus on providing outstanding service to its customers mirrors our own.

“The funding structure which we were able to arrange demonstrates Handelsbanken's prowess in arranging bespoke solutions on a case by case basis with the customer's needs at the centre. We look forward to a long and productive relationship with Chris, Russell and all the team at Melrose."

Melrose specialises in investment and bespoke retail, residential and office construction for a range of customers including supermarkets, schools and social housing associations, a growth sector for the business.

The company employs 10 staff at its headquarters, with a further 50-60 during construction projects, plus subcontractors.

Russell Dawson, financial director at Melrose Investments, added: “Melrose already has a very solid base and we needed some flexibility to continue our growth strategy which this new package supplies.”