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Work continues on a new neighbourhood in Leeds after Hampshire Trust Bank helped a property group raise £25 million by securing some of its land.
The deal was signed with GMV Twelve, part of Commercial Estate Group (CEG), which is also behind the development of the Kirkstall Forge suburb in west Leeds.
Kirkstall Forge, located on the banks of the River Aire, will be a new community with more than 1,400 homes, offices, accommodation and leisure facilities, as well as a nursery and transport infrastructure when completed.
The case, which was referred to HTB by LEXI Finance, involved security documents across three different jurisdictions, including Jersey and Gibraltar, five legal teams and a complex corporate structure.
Rob Sillett, head of development finance at Hampshire Trust Bank, said: “It has been a real pleasure working with both CEG and LEXI on a flagship scheme such as Kirkstall Forge.”
The borrower has received planning approval for the entire scheme.
Sam Le Pardo, director at LEXI Finance, said: “We are proud to have contributed our bit to the history of this site and realised CEG’s vision for a legacy project that will leave a significant mark on the local community.”
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