20/02/2007

Gordons completes Bank of Ireland property deals worth over £60m

The property finance team at Leeds and Bradford-based law firm Gordons has completed four separate high profile deals for the Bank of Ireland totalling in excess of £60m.

The largest of the deals involved Bank of Ireland funding the £26.25m development of part of Leeds’ newest residential scheme, Holbeck Village, in particular the Manor Mills element of the development. Gordons advised on all issues including construction and planning.

Gordons also advised Bank of Ireland on a further £25m deal to develop a mixed use site on Skinner Lane, Leeds. As with the Manor Mills deal, issues such as construction and planning were dealt with as part of the legal process.

Rob Sharratt, director, Bank of Ireland, said: “With over £0.25 billion invested in the Yorkshire area in the last nine months, Bank of Ireland plays a major role in providing funding for new property developments and has supported a large number of schemes in Leeds and Sheffield city centres. Gordons has advised on a number of recent projects and has provided straightforward, effective solutions for all the different processes involved.”

Gordons also advised on two other Bank of Ireland deals – a £7.5m sale and leaseback on behalf of Tusker Estates and an agreement to secure a £2.1m loan for London-based Oakstore.