Hilco Real Estate Finance, a Hilco Global Company, has closed a £5m deal to provide stabilisation finance to an independent garden centre in the south-east of England.
The 12.6-acre site houses a garden centre, alongside a successful restaurant and café and circa 250 parking spaces.
The current owners have taken out a 12-month facility that will be used to stabilise the asset and provide additional working capital while they pursue oprtions for a potential exit.
Sean Adams, managing director at HREF said: “This deal reinforces our flexible approach to esoteric assets, underpinned by solid fundamentals.
“The UK garden centre market has remained robust over recent years despite the mixed performance of the UK retail sector overall.
“Continued consolidation in the sector provides clear exit plans for remaining independent operators and we were pleased to be able to support the borrower in their journey through to a point of sale.”
