Specialist marketplace lender Assetz Capital has completed another project in South Wales, an area where the company has provided significant investment over the last few years.
This time, the business has completed a commercial mortgage for Kartay Holdings Ltd in Oxford Street, Swansea. The loan will assist with the purchase of five centrally located retail units in Swansea’s main shopping district. The mostly vacant space above will likely be used for future residential development.
The borrower, Ian Morgan, is an established primary investor into the city.
Morgan said: “The service from Assetz Capital has been great – six weeks start to completion, that is seriously impressive. We hope to continue working with them in the future and continue to bring much needed investment to Swansea.”
Assetz Capital has increased its lending in Wales by 30% over the last year, funding numerous projects aimed at solving local issues for developers and SMEs who need better access to finance.
Jason Way, business development director at Assets Capital, said: “I’m delighted that we are contributing to the re-development of Swansea City Centre. We hope to be funding many more of Ian Morgan’s development opportunities across South Wales. We are keen to support local developers in the region both in the cities and the smaller towns – we are lending in places that are often overlooked.
“We have a local team of Relationship Directors on the ground here, so we really understand the needs and wants of local businesses.”
