Eligo Towers Ltd, a London-based recruitment specialist led by directors Jonathan Doherty and Andrew Molloy, has secured over £1m in refinance from Cambridge & Counties Bank.
The loan was secured against a modern office asset in Wimbledon, South West London.
The Wimbledon property comprised two interconnected office suites within a newly constructed six-storey building, located on Hartfield Road, just 400 metres from Wimbledon station.
The asset is part owner-occupied and part investment property, with a third-party tenant.
The owner-occupied section houses four separate businesses, including one based in Italy.
The refinancing deal was facilitated by Wasim Ahmed, managing director of Trade & Merchant Finance Brokerage Ltd, an SME finance specialist.
Paul Howard (pictured), regional director at Cambridge & Counties Bank, said: “Modern office assets in the capital continue to hold reliable, long-term value potential, making this an attractive lending opportunity for the bank.
“In particular, this deal showcased our approach – and strength – in delivering bespoke solutions for our clients in often complex scenarios, a lending model which remains fundamental to our market approach and growth.”
Doherty said: “The bespoke, hands-on support from both Cambridge & Counties Bank and Trade & Merchant Finance Brokerage Ltd has been outstanding, particularly the direct involvement of the regional manager in ensuring that any legal hold ups were resolved efficiently and sensibly.”
Ahmed said: “Eligo is a long-standing client of ours and when they asked us to assist in securing a refinancing deal for Eligo Towers, it was an exciting opportunity despite the context of a challenging office market.
“The team at Cambridge & Counties Bank recognised the value of the people involved in this business, as well as the asset and commerciality of the deal which made it such a viable investment.”
