Aldermore has provided a £7m commercial mortgage to Yorkshire Property Rentals Limited for two industrial properties located in Cleckheaton and Batley, both to the south of Bradford.
The first property, Scandinavia Mill in Cleckheaton, was a 10.5-acre site comprised of industrial and warehouse space, and an office block.
The second property, Smithies Mill in Batley, was a former mill, converted to provide a total of 21 rental units, of which 16 were rented to local businesses.
Michael Graham, senior lending manager at Aldermore, said: “We are delighted to have provided this commercial mortgage to Yorkshire Property Rentals Limited as they continue to offer local businesses great working spaces, supporting the local economy.
“Yorkshire Property Rentals Limited are experienced property managers, and with our expertise in the commercial mortgages space, we were able to work together with John and Julia to deliver this deal.
“We look forward to strengthening our relationship with the Yorkshire Property Rentals team in the future.”
Yorkshire Property Rentals Limited currently has five commercial properties in its portfolio.
Founder John Heeley Townend runs the business with daughter Julia, who manages the properties.
Townend said: “Partnering with Aldermore has allowed us to move forward with our property acquisitions strategy and enhance the current portfolio which will bring incredible value to people and businesses in West Yorkshire.
“Aldermore really took the time to understand both our needs and our ambition for the project. We look forward to a fantastic ongoing relationship.”
