Commercial property firm to expand - commercial mortgages

19 November 2007

WR Estates has bought an industrial park in Deeside as it expands its business, according to local media reports.

The Wigan based firm has demonstrated that it is still possible for commercial mortgage holders to expand in the current climate.

The deal, which was funded by the Bank of Scotland, according to Wigan Today, sees the firm acquire Engineer Park for 4.6 million. The park is currently home to over 25 businesses, the regional website has reported.

"We are very pleased to have secured this site as it fits with our plans to expand the number of properties we own across the north-west," said WR Estates director William Ainscough, according to the paper.

"This latest acquisition demonstrates the company''s ambitions," added RBS senior manager Andy Llewelyn.

Commercial property firms stand to benefit next year when the Bank of England is expected to cut interest rates at least twice.