Andrew’s Homes has secured a £20million refinancing deal to support its growing portfolio.
The Aberdeen-based company has negotiated an agreement with Handelsbanken to cover its assets in the city’s west end.
The five-year deal will anchor Andrew’s Homes strategy of leasing prime Aberdeen properties while offering additional security to seek out new investment and development opportunities in the city and elsewhere in Scotland.
Andrew’s Homes operates in both the residential and commercial property markets, with a portfolio of high-end properties in Aberdeen, Dundee and Inverness. A high percentage of the properties are based in Aberdeen’s west end, and 75% of its assets are in the commercial sector.
The family-run property company is owned and managed by Jonathon Harper, and has been a key player in Aberdeen’s property market since it was launched in 1969 by Jonathon’s late father, Barrie.
Jonathon said: “Securing this substantial refinancing deal with Handelsbanken is a significant achievement which creates a solid foundation for us to make key decisions and consider future potential opportunities.
“This is a new relationship with Handelsbanken and business is all about partnerships and that is what my father believed in too. Securing this funding gives us the opportunity to consider expanding our portfolio further across Scotland, as well as in Aberdeen, and we are currently looking at a couple of major property deals in the Aberdeen area.”
The partnership is one of Handelsbanken’s largest deals in Aberdeen to date.
Neil Clark, Aberdeen branch manager, Handelsbanken, said: “Andrew’s Homes is a well-respected, family-run business which has been around for a long time and has a very strong property portfolio in the city and further afield.
“The company’s track record in the property market and core values as a business is an excellent fit for Handelsbanken and this will be a long term relationship working in partnership to support Andrew’s Homes with their company vision.”