Clydesdale Bank has lent £27.55m to property firms on two regional deals. Clydesdale Corporate & Structured Finance provided £23.75m to replace half of a loan Lloyds lent Development Securities and Patron Capital Partners last April to buy the Manchester Evening News Arena, valued at £73m. The loan expires in 2013. The bank also supplied Helical Bar with £3.8m for its £6m purchase of Langlands Place Industrial Estate in East Kilbride, Scotland, from Henderson Global Investors.
Clydesdale, part of National Australia Bank, recently launched a corporate real estate team and has been looking to increase its lending on property. In March the bank refinanced Goldman Sachs’ Whitehall’s £101.3m Queens Moat Houses loan, at a loan-to-value ratio of around 30% of the 14-strong portfolio’s £230m value, following six months of talks. Helical’s senior investment executive Duncan Walker said it had “been looking to expand its banking relationships to include new market entrants with an appetite to fund property deals”.