RBS agrees London mixed-use loan
Marldon has secured a £12m loan from Royal Bank of Scotland for a mixed-use development at Prescot Street in London.
The family business, founded in 1968, plans to develop 57 serviced flats, comprising 21 studios, 27 large studios and nine one-bedroom apartments. Marldon will also build 8,847 sq ft of Grade A, self-contained offices within the scheme.
The development is expected to complete during the summer of 2018.
Anthony Bartlett, founder and Senior Partner at Marldon, said: “The funding from Royal Bank of Scotland has been instrumental in helping us progress the Prescot Street development. Marldon’s partnership with the bank is long-standing, and once again we have received a significant deal of support.
“This project is exciting, as we return to one of our strong disciplines – new-build development. We’re also proud to be able to continue our commitment to job creation and training in the form of apprenticeships. We look forward to seeing it take shape, and are confident it will be a positive asset for the local community.”
Toby Butcher, director at Royal Bank of Scotland, said: “Marldon is an excellent example of a successful family business, and one Royal Bank of Scotland is proud to back. It is an award-winning company, with a renowned capability in consulting, specialist project management, construction, architecture and interior design.
“The company boasts an impressive portfolio of properties across Central London, which is set to continue with Prescot Street. We wish Anthony and the company all the very best with their latest development.”