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Schofield Sweeney advises Shawbrook Bank Ltd and Harris Trucking Storage on multi million pound refinance and capital raise. Harris Trucking Storage, which comprises of husband and wife team Scott and Alison Harris, built a pallet storage business close to the Parkway in Sheffield in 2010.
Schofield Sweeney advised Shawbrook on the loan agreement and security in respect of 100,000 square foot storage space along with separate large office space. Harris Trucking Storage offers facilities for a wide range of blue chip companies.
The capital raise will permit further 12,000 square foot of racking to be built which will provide them with more space which will allow them to expand their growing client base.
Manjit Virdee, Partner in the Property Finance Team at Schofield Sweeney stated “It was a pleasure to act for the Bank and advise Harris Trucking Storage. It was quite evident at the potential of the site and it's great to see Shawbrook fund the deal, after considerable interest from other lenders. I wish the relationship between Shawbrook and Harris Trucking Storage all the best”
Alison Harris said “Working with Manjit and Schofield Sweeney has been a pleasure. This was a hugely important deal for us, and if any problems arose, Manjit didn't just tell us about it, he found a solution.”
Nick Salmons of Shawbrook Bank said “We spent a good amount of time with Scott and Alison at Harris Trucking Storage to really understand what they were trying to achieve. I’m really pleased we were able to help finance the development of the site with a funding package that truly suits their plans to secure valuable new customers and to grow the business. Working closely with Manjit and the team at Schofield Sweeney was crucial, and everyone involved has worked very hard to ensure the transaction was completed on schedule.”
Our Real Estate Finance team would love to help you with your refinancing too, please call 01274 306000.