Metro Bank has today announced that it has provided Charterhouse Property Holdings Limited with £18 million in funding that has been used to refinance an established portfolio of student and key worker accommodation on the South Coast.
Established over 20 years ago, the newly named Charterhouse Group has focussed on acquiring and extensively renovating a number of properties and currently lets over 250 units of student and keyworker accommodation in the Hastings area.
Patrick Hanlon, director at Charterhouse said: “Charterhouse required a banking partner to assist us with the rationalisation of our mortgage lending for the commercial element of our portfolio.
“Following a strategic review, we agreed terms with Metro Bank to provide an £18,000,000 facility, which would encompass all of these properties and simplify our banking structures moving forward.
“Metro Bank has been an excellent banking partner at all levels, from meeting Chairman Vernon Hill to opening bank accounts. The pragmatic way the Metro Bank property division does business has been quite refreshing, we have been particularly impressed with its customer-focused approach.”
Craig Wilson, Director of Real Estate Finance at Metro Bank commented: “We’re absolutely delighted to have been able to support Charterhouse with this finance solution. Since inception, Charterhouse has built an excellent reputation for providing high-quality accommodation on the South Coast. We look forward to working closely with them and supporting them with their future growth aspirations.”