Bank of Scotland named property funder of the year

Bank of Scotland CRE & SME Teams
Bank of Scotland CRE & SME Teams

The Bank of Scotland’s Commercial Real Estate and SME Property teams were crowned Funder of the Year at the 2018 Scottish Property Awards last week.

Last year, the teams completed several firsts for the Scottish property sector including a forward funding commitment of £65m to LAR Housing to deliver 1,000 new mid-market rental properties across the country.

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The bank also backed HFD on University of West Scotland’s new 225,000 sq ft EcoCampus with a £39.7m development loan – awarded with a margin discount provided under its landmark Green Lending Initiative – and a £46.2m funding package for the delivery of HFD Group’s Bothwell Exchange in Glasgow, which was pre-let to Morgan Stanley to support 1,200 jobs.

Development funding (£12.6m) to GSS Group was also provided to help deliver 45,000sq ft of prime new build Grade A office and retail space to Edinburgh’s key Exchange business district.

The other shortlisted entries in the category, which was sponsored by Weightmans, came from Fairfield Real Estate, M&G Real Estate and RBS.

Now its fifth year, the Scottish Property Awards was held at the Hilton Hotel in Glasgow and attended by more than 700 professionals from across the country’s commercial property sector.

Allan MacKenzie, Head of Scotland and the North for Bank of Scotland Commercial Real Estate, said: “The team and I are extremely proud to have accepted this award. 2017 was a significant year both for us and Scotland’s property market, in which our funding played a pivotal role in supporting future economic prosperity and sustainability. We have been recognised for our innovative approach to complex funding proposals and the support of key commercial real estate projects as we seek to provide a leading customer experience.  By working collectively with Nigel Walker, Head of SME Real Estate, Scotland and his team, their ongoing performance in supporting local communities and professional investors has allowed us to achieve this industry recognition together.”