Reward Funding has increased its backing for a commercial redevelopment project, advancing a fresh seven-figure tranche to support regional expansion and new development activity.
The latest uplift to an existing facility enables the client to release capital from a now-completed business park scheme and redeploy it into further acquisitions and housebuilding opportunities across South West Scotland.
The funding relates to Cleator Mills Business Park, a former derelict mill site that has been transformed into an income-generating commercial asset.
The scheme is now fully completed and tenanted, allowing the borrower to leverage the stabilised asset and recycle capital into its next phase of growth.
FULL LIFECYCLE
This marks the third stage of funding support from Reward, spanning acquisition, redevelopment and refinance, highlighting the role of specialist lenders in backing projects through the full lifecycle and into reinvestment.
Mark Walker (main picture, middle), managing director of Cleator Mills Business Park, says: “Reward was the obvious choice for a funding partner from day one. The original deals helped us acquire and develop Cleator Mills into a thriving commercial site.
“The mill has brought immense value to the community, developing a run-down derelict site into an attractive commercial space, including a café that is open to the public, bringing jobs to the local area.
“Reward’s willingness to increase our facility at this stage reflects the strength of our relationship and their confidence in our track record to date. The additional funding will support our next phase of growth, including some housebuilding development opportunities in a new region.”
SUPPORTING BUSINESS
Gareth Boardman (main picture, left), relationship manager for Reward Funding, adds: “We’re very pleased to continue our support of Mark and Cleator Mills.
“The transformation of the site has been truly remarkable, with the completion of high-quality units and high-value tenants generating strong rental income. This is a reflection not only of our client’s ability to deliver high-quality projects, but also the vision to achieve such an impressive outcome.
“We’ve backed this project from acquisition, through development and now to stabilised income. Because we understand both the asset and the operator, we can move quickly to support businesses when the next opportunity appears.”
Main picture: (Left to right) Gareth Boardman; Mark Walker and Phil Redfern
