April 16th 2024

Eshton Group secures £multi-million facility from Handelsbanken to fuel roadside development expansion

Eshton Group, a leading commercial developer, has secured a significant boost to its development strategy, having secured a £multi-million facility from Handelsbanken. The new financial backing underscores Handelsbanken’s confidence in Eshton Group’s professionalism and vision, and also marks a pivotal moment in the developer’s expansion plans.

The infusion of capital from Handelsbanken enables Eshton Group to amplify its ongoing search for strategic locations across Great Britain, further bolstering its robust portfolio of roadside and local shopping development sites in England, Scotland and Wales.

The developer’s forward-thinking approach is exemplified by its latest ventures in Northallerton and Castleford. In Northallerton, Eshton, in partnership with Aldi, is proposing a ‘modern day’ local centre on a gateway site to the North. Eshton’s development supports 900 new homes and a new school with a blend of food and beverage facilities linked to the food store.

Richard Tovey, Director at Eshton Group, said: “We’re thrilled to embark on this exciting journey with Handelsbanken by our side. This investment fuels our mission to deliver best-in-class roadside retail developments that not only meet but exceed the evolving needs of communities nationwide.

“Eshton boasts success in pinpointing strategic commercial property locations which, with the right development approach, fulfil urgent market needs. What’s different now is that we’re expanding our search. Across England, Scotland and Wales, we’re scouting commercial property development opportunities and locations that deliver job creation and community facilities.”

George Allott, Corporate Banking Manager at Handelsbanken Leeds Wellington Street, said: “Eshton Group evidence a strong 20+ year history in delivering quality assets to the communities of the North of England. The flexible funding structure we have provided for the group provides significant capital to accelerate their growth plans, helping create jobs and improve communities across the whole of the United Kingdom.

“Handelsbanken’s relationship banking model and ability to make local decisions aligned directly with Eshton Group’s requirements when looking for a banking partner to help expediate their growth plans. We are excited to start this journey as Eshton Group’s full banking partner and support their long-term growth strategy.”

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