Finance team funds deals worth £500m

Jan 9 2008 by Tony McDonough, Liverpool Daily Post

ROYAL Bank of Scotland’s Liverpool-based property finance team provided funding for more than £500m worth of projects in 2007 – a 20% increase on 2006.

The team, which has recently relocated to the Plaza, in Old Hall Street, has also recruited a new member, Simon Hewitt, who joins from the Barclays northern property finance team, in Manchester.

Deals funded during 2007 included £115m to support the buyout of JS Real Estate by Warner Estates, the owner of Cavern Walks, a £75m deal to enable Cheshire-based Morley Estates to expand its property portfolio and the £15m Jugglers Yard development, in Liverpool city centre, for Illiad Developments.

Hugh Macdonald, director of property finance for RBS in Liverpool, said: “Liverpool’s commercial property sector continues to perform strongly and we are delighted to be putting additional resources into the team to support a vibrant local market.”

Mr Hewitt will take on the role of relationship director and will specialise in providing structured finance deals to commercial property clients across Merseyside and Cheshire. His appointment takes the number of staff in the team to five.

He lives in Chester and relocated to the North West from London three years ago where he had previously worked for Barclays Asset Finance.

“Simon is an experienced property banker and will provide customers with sound, practical advice to help them achieve their business goals,” added Mr Macdonald.

RBS’s Liverpool-based corporate banking team relocated to the Plaza late last year from Dale Street.

The new base is home to the Liverpool corporate and commercial banking teams, as well as Lombard, the asset finance arm of the RBS Group, and the NatWest business banking teams.

The move to the 10th floor of the Plaza has increased the number of RBS employees working in the city centre by 25%, following the move of Lombard staff from Newton-le-Willows.

tonymcdonough@dailypost.co.uk