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Property investment company Ashby Capital has completed £50m of refinancing for two retail parks in a deal with its existing lender Deutsch Hypo.



The three-year loan includes a capital expenditure facility and is secured against the fully-let <a href="https://completelyretail.co.uk/scheme/Morfa-Shopping-Park-Swansea">Morfa Shopping Park</a> and <a href="https://completelyretail.co.uk/scheme/Westside-Retail-Park-Guiseley">Westside Retail Park</a>.



Morfa Shopping Park in <a href="https://completelyretail.co.uk/shops-to-rent/swansea">Swansea</a> was purchased from The Crown Estate in 2015, and supports 345,000 sq ft of retail, leisure, and parking space. Tenants at the scheme include Argos, River Island, and Currys.



Westside Retail Park in <a href="https://completelyretail.co.uk/shops-to-rent/guiseley">Guisely</a>, north of <a href="https://completelyretail.co.uk/shops-to-rent/leeds">Leeds</a>, was acquired in 2019 from British Land. The 120,000 sq ft park hosts tenants including TK Maxx, Sports Direct, and Halfords.



Charles-Etienne Lawrence, investment director at Ashby Capital, said: "This new loan facility is testament to the strength of our retail park portfolio, which is fully occupied and seeing steady rental growth. This, combined with our prudent approach to leverage made it possible to complete this successful refinancing in the midst of challenging capital markets conditions.



"This three-year facility will allow us to work through the next stage of the assets' lifecycle, and we look forward to continuing to our close partnership with Deutsche Hypo."

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