Travers Smith LLP has advised AshbyCapital (Ashby) on the refinancing of its Morfa and Westside retail parks with a three-year c.£50 million loan provided by existing lender Deutsche Hypo.
Morfa Shopping Park offers 345,000 sq ft of retail, leisure and parking close to the Liberty Stadium, which is home to Swansea City Football Club and the Ospreys regional rugby team. It was purchased from The Crown Estate in 2015. Westside Retail Park in Guiseley, West Yorkshire, comprises 120,000 sq ft of retail space across 13 retail units. It was purchased from British Land in 2019.
Danny Peel, Head of Finance, commented: "We are really pleased to have advised on this successful refinancing, demonstrating the strength of Ashby's retail park portfolio. With increasing demand from large investors, retail parks are continuing to prove to be a resilient business model in a sector which continues to recover from the impact of the pandemic."
The Travers Smith team was led by Head of Finance Danny Peel, supported by Associates Alastair Lowson and Katchenin Kone. Real Estate advice was provided by Associates Tony Dosanjh and Hattie Assmundson.
