North East investment fund partners with Ward Hadaway to accelerate real estate market growth

Simon Errington, Ward Hadaway’s Built Environment Team Partner (left) and Ian McElroy (right) CEO of Tier One Capital (right)

TOC Property Backed Lending Trust PLC (PBLT) appointed leading northern law firm Ward Hadaway to advise on its recent financing deals with Shawbrook Bank and increasing lending activity in the area real estate development.

PBLT, which is managed by Tier One Capital Ltd (Tier One), a Newcastle-upon-Tyne-based wealth management and mortgage specialist, and is listed on the main market of the London Stock Exchange, named the top 100 of British law firms for its high-level experience, legal expertise and reputation in the Built Environment sector.

Ward Hadaway’s built environment team is one of the largest and most established teams working in the real estate industry in the North of England, and the firm’s lawyers in real estate finance and banking provide to PBLT the desired expert advice on loan transactions and help support and accelerate the capacity of their growth plans.

PBLT is strongly positioned to help boost the region’s commercial and residential property markets and has a current loan portfolio of around £ 25million in its portfolio and is looking to accelerate its growth plans in the region. north-eastern England and Scotland.

PBLT has recently entered into a number of major deals in the residential and commercial markets and is currently seeking potential borrowers while providing positive longer term returns for investors.

Ian McElroy, Managing Director of Tier One Capital, said: “We are delighted that PBLT is working with Ward Hadaway and that the fund is joining forces with its team of specialists in the residential and commercial real estate sector.

“His team enjoys a fantastic reputation across the UK, and PBLT is in a very strong position to help drive the region’s commercial and residential property markets, with the right partners and expert legal teams to. edge.

“We are currently looking to grow LTBP’s borrower portfolio by providing positive returns for investors and providing the necessary financing in the real estate development and construction sectors. “

Simon Errington, Ward Hadaway’s Built Environment Team Partner, said: “This is fantastic news for the Northeastern commercial and residential real estate markets and will provide a much needed boost to stimulate the market. economy, especially in the wake of the pandemic. “

Imogen Holland, Ward Hadaway Corporate Team Partner, added: “We have a solid reputation in the industry, and we are delighted to be working with the Tier One team and acting on behalf of PBLT to provide expert advice on legal documentation. for loan operations.

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