Chorley Guardian (Chorley, England)

[Pounds Sterling]230m Deal by Hemmings Firm Backs Expansion Plan

Trevor Hemmings' Northern Trust Group, the property investment, development and land regeneration company, has agreed a [pounds sterling]230m refinance deal with an eye on further expansion.

M&G Investments has completed the deal for Preston North End owner Mr Hemmings' Chorley-based company.

The whole loan will be provided for a term of 5 years against assets in excess of [pounds sterling]450 million.

This deal is the refinancing of a loan provided by M&G in 2014, and remains secured against Northern Trust's portfolio of industrial, trade and office parks, comprising over 3,600 individual units in total .

The vast majority of the portfolio is let to SMEs in the UK. …

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