MUCH-needed office space in Oxfordshire has been secured for the future thanks to finance from GB Bank.
The Teesside-based bank provided a commercial bridging loan to enable a development company to buy a Grade II listed building in the town of Watlington in South Oxfordshire.
Following its acquisition, the three-storey building will continue to be used as a serviced office centre for a variety of different tenants, as well as storage space and a retail unit.
Office space is limited in the area, which is within a Conservation Area and in Watlington, a town close to the Chiltern Hills and around three miles from the M40 motorway.
GB Bank managed to maintain high levels of communication between all parties to ensure the completion of a strong commercial investment, which was tenanted.
Laleta Buctkuar, Relationship Manager at GB Bank, said: “We were delighted to be able to help an experienced development company to complete the acquisition of what is a really important centre for the commercial life of the community.
“Getting the right office space is vital for businesses, particularly SMEs, so we were very pleased to have been able to provide the best financial solution.”
Russell Hall, director at mortgage brokerage SPF Private Clients, introduced the client to GB Bank.
Mr Hall said: “GB Bank were great to work with – they were approachable and proactive and ensured that dialogue between all the parties working on the deal was maintained throughout.”
For more information on GB Bank’s lending services, please visit: https://gbbank.co.uk/introducers-and-referrals/