Metro Bank has provided Capreon, the asset manager of the Alhambra Shopping Centre in Barnsley, with £17.3 million of funding.
The capital will assist with operations and management of the asset and sees Capreon further solidify its relationship with Metro Bank.
Rob Mackenzie-Carmichael, Director at Capreon said: “Working with Metro Bank on this transaction has been a pleasure from day one to completion. Their professional and flexible approach has been well received and we look forward to working closely with the whole Metro team again, as we look to source finance for new opportunities in the future.”
Commenting on the funding solution, Mark Stokes, Managing Director Commercial Banking at Metro Bank added: “We’re delighted to have been able to support the group with a significant capital injection. The organisation has an impressive track-record and a wealth of sector experience, and we look forward to building a long-term relationship with the team.”
The Alhambra Shopping Centre is a dual level centre located in the heart of Barnsley town centre.
Home to over 40 stores including Primark, Wilko, Next and TK Maxx, the centre has been heavily invested in, resulting in an attractive and popular shopping area. It has an average weekly footfall of 116,000 visitors and last year was visited by 6.6 million shoppers.