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 will fund the project for offices, clinics and research and development. Units constructed will take seven months to complete and can be finished to the occupier’s individual requirements.
Michael Eyres at Artisan 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.”
Artisan Developments main activity is in the East of England and has over 25 years’ experience in commercial property.
There are eight other companies under the Artisan Group which vary from commercial, residential investment and development organisations.
Since its establishment in 2013 Assetz Capital has lent over £910m to UK SMEs, funding projects like commercial properties, housing developments, care homes and purpose built student accommodation.
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,” he concluded.
In August Assetz Capital announced Fraser Clark had been promoted to relationship director, while Colin Mottram was named as senior relationship manager in Scotland.
Clark was the regional support director for UK – North, based in Edinburgh, and his new position as relationship director will see him with an increased focus on deal origination and execution.
Before joining Assetz, Mottram gained eight years of experience working within the Lloyds Banking Group, most recently as relationship manager in its Business Bank. In his role at Assetz as senior relationship manager, Mottram will be responsible for securing and completing deals, as well as forging and building relationships with new and existing clients.