Commercial property developer secures £3.3m loan from Assetz Capital
Marketplace lender Assetz Capital has provided a £3.3m development loan to Artisan (UK) Developments to fund the construction of 14 commercial units in Bedfordshire.
The loan is required to fund the project which will be suitable for a range of uses such as offices, clinics and research and development. Each unit is constructed to a high specification and can be internally finished to the occupiers’ individual requirements. The site is based near Bedford, with direct access to the M1 and includes a children’s day nursery and 87 car park spaces. The development will take seven months to complete.
Artisan (UK) Developments has over 25 years’ experience in commercial property. The firm’s main activity is in the East of England, with past projects including Cardinal Park, Godmanchester; Quantum Business Park, Ipswich; and Axon Business Park, Peterborough. There are eight other companies under the Artisan group which vary from commercial, residential investment and development organisations.
Since establishing in 2013, Assetz Capital has lent over £910m to UK SMEs, funding projects such as commercial properties, housing developments, care homes and purpose-built student accommodation (PBSA). In the last year alone, the marketplace lender has funded the construction of one in 100 new homes built in the UK.
Michael Eyres at Artisan (UK) Developments, said: “This is the first development of its kind in the area and represents a rare opportunity to buy freehold business units for B1 planning class use. It is really important for us to increase the availability of commercial properties like this as demand increases across the region. Since 1999, we have built a range of developments, and with Assetz Capital’s funding, we have been able to continue our remit to aid the region’s economy.”
Jason Roper, relationship director at Assetz Capital, said:“At Assetz, we have always been committed to supporting ambitious developers like Artisan. With the firm’s strong track record in commercial property across the South East, we were excited to support this project. This development will enable us to continue to positively affect the UK property market, while supporting business growth across the South.”