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The student accommodation specialist has unveiled a five-year expansion plan which could see the multi-million pound company double in size over the next 5 years.
The Kexgill Group, based at Hull, already has nine branches throughout the UK as well as a presence in Germany. Overall, the firm’s total assets are valued in excess of £100 million. It is seeking to acquire and invest in new assets across the UK.
To better support its five-year growth plan, The Kexgill Group recently changed banking partner to Santander Corporate & Commercial. The bank has refinanced over £6 million in lending facilities which will allow the Group to fully support its current portfolio of properties as well as invest for growth, if and when the opportunity arises.
The Kexgill Group expansion programme has been launched on the back of the company being judged Student Landlord of the Year in Leeds, Liverpool, Middlesbrough, Durham and overall in the N/E of England, one of 19 prestigious honours achieved in 2015.
Richard Stott, Managing Director Kexgill Group, said: “We have swept the board in this year’s awards across our sector so it’s the right time to be announcing our expansion plans. We will be targeting all areas in the UK and we see no reason why we should not be able to double our size over the next five years.”
“The awards – judged in the main by the students themselves – are recognition of the ambition and hard work show by the company and its staff of 50. Obviously, as the business grows, so will our workforce. This year has been a remarkable one for our company and it has provided us with a terrific platform from which to launch our five-year plan for further growth.”
Mick Graham, Real Estate Director of Santander Corporate & Commercial, said: “We’re delighted to be supporting the Kexgill Group at such a key time in the company’s growth. This is a fantastic opportunity to support a vibrant business which started in the Yorkshire area. The funding from Santander provides a very secure, long-term footing for the Kexgill group.
Manjit Virdee said: “We worked closely with Santander Corporate & Commercial and had a clear understanding of the transaction. We provided an efficient service, meeting all of the practical requirements. It is always a pleasure to work which Mick and the Santander team, and we wish the Kexgill Group all the best with regards to their expansion plans.”