The Marshall Group has secured a funding deal worth more than £29 million from the Royal Bank of Scotland (RBS).
As part of the funding arrangement, the Elland-based firm has acquired £12.37 million to aid with its development of the De Vere Hotel, Edinburgh, creating employment opportunities in the construction and leisure trade.
The funding facilities, which include a £17.5m refinancing package, will also be used to support Marshall’s various retail, office, industrial and leisure development schemes up and down the country.
Marshalls was founded in 1901 when Christopher Hemmingway Marshall set up a thriving building company in Elland, West Yorkshire. After more than 100 years, the firm is one of the most successful family owned companies in the North of England.
The company has been banking with RBS for more than 50 years, and during this time, the bank has fostered an excellent understanding of the business leading to a strong relationship.
Stuart Heslop, Regional Managing Director RBS Real Estate Finance North and Scotland, said: “We have been working with Marshalls for more than five decades and have developed a unique understanding of their business goals and ambitions. They have a clear focus on supporting the communities they operate in. We were delighted to support both the re-financing package and financing for the hotel development, and we wish them all the best for the future.”