Aviva Investors Real Estate Finance has completed a £23.8m refinancing deal on the award winning Marshall’s Yard retail, office and leisure development in Gainsborough.
Marshall’s Yard Ltd opened in the north Lincolnshire market town in spring 2007 and is co-owned by Yorkshire companies Prospect Estates and Dransfield Properties Ltd. The company has just agreed a new ten year re-finance deal with Aviva Investors Real Estate Finance.
The centre houses 150,000sq. ft. of prime retail and leisure space and a 62,000sq. ft of office space.
James Tarry, Fund Manager at Aviva Investors, said: “We are delighted to support Dransfield Property in their refinancing of Marshall’s Yard.
“This combination of borrower and property suits particularly well the medium-to-longer term fixed rate financing product that our debt fund provides in the UK.”
Mark Dransfield, Managing Director of Dransfield Properties Ltd, said: “We are delighted to have agreed a deal with Aviva Investors which puts us in a position of being able to plan for the future and reduces the uncertainty of short term changes in the financial markets.
“We have some exciting new plans for Marshall’s Yard to bring a number of new retailers and to add a new restaurant to the centre. It is great news we can move forward with Aviva Investors as our financial partner.”