Commercial firm to expand UK interests ? commercial mortgages

19 December 2007

Spencer Holdings is aiming to expand across the UK with the help of £200 million worth of debt funding, it has been revealed.

The Liverpool Daily Post has said that the firm is intending to increase the size of its property portfolio by 50 per cent to six million square feet.

The firm already has more than 800 tenants in the UK, the paper reports.

"We now have sufficient resources to complete our strategic investment programme and will continue to focus on offering quality properties, on flexible terms, in prime locations at highly competitive rents," said Spencer Holdings chairman and founder Jim Spencer, according to the Daily Post.

Earlier this week it was suggested that smaller UK businesses with commercial mortgages have not yet been badly affected by the global financial crisis. The credit crunch saw the Bank of England cut rates for the first time in two years earlier this month.