WBD has advised HSBC UK Bank plc on a £10 million Revolving Credit Facility to the Conroy Brook group of luxury homes housebuilders. The loan, which may be used for the purpose of residential development and property acquisitions, will enable the group to complete the development of its three existing sites at Stocksmoor, Harrogate, and Denby Dale as well as purchase and develop future sites.
A multidisciplinary team of lawyers from WBD advised on the deal, which was led on the banking side by partner John Connor and solicitor Luke Addison. Construction solicitor Sarah Wales advised the Bank in relation to construction matters, and associates Joanne Anderson and Jonathan Yates provided advice on matters of property law.
John Connor, partner at WBD, commented:
"Helping our clients to support the Yorkshire economy is an important strategic goal for WBD. The facilities made available by the Bank for this prominent Yorkshire developer will help to deliver much needed high-quality housing stock across this region. We are proud that our contributions ensured the successful completion of this transaction for the Bank and its customer."
Chris Kosmirak, Relationship Director at HSBC UK Bank plc, added:
"We are extremely grateful for the expertise and commitment of the WBD team in delivering this transaction in a timely manner. Their experience and commercial acumen played an important role in helping us achieve the smooth completion of our first transaction with the Conroy Brook group."
Richard Conroy, Director of Conroy Brook said:
"The WBD team were commercial and pragmatic in their approach, and were very responsive throughout the transaction, which assisted in closing the deal in good time."
Ranking in the UK's top 20 law firms, WBD advises clients across 11 key sectors from eight cities across the UK and 19 offices in the US. In the UK, the firm acts for a range of clients in the banking and financial services sector including commercial banks and specialist lenders.