Chase Commercial catches £4.1m investment
Stratford-upon-Avon-based Chase Commercial has secured £4.1m of refinancing from Yorkshire Bank’s Coventry financial solutions centre. The commercial property developer said the investment would be poured into its retail and leisure development on Birmingham Road.
Following the completion of a 91-bed Travelodge project, Chase Commercial needed a loan provider after its existing facility expired.
The Birmingham Road project comprises a hotel, leisure centre and three retail units. The retail units are located underneath the hotel and total about 6,000 sq ft. Two of the three units are occupied by Domino’s Pizza and bathroom retailer Bath Store.
Paul Brooksbank from Yorkshire Bank’s Coventry site at the Ricoh Arena led the deal arrangement.
He said: "Chase Commercial’s development on Birmingham Road has led to the opening of Stratford’s first budget hotel, brought new retailers to the town and has also created new jobs.
"The company works throughout the UK developing office, industrial and mixed use schemes and is exactly the type of business Yorkshire Bank is actively looking to provide funding to."
