|Facility||Term Loan and Revolving Credit Facility|
|Funding Need||Refinance and growth|
Real estate consultancy Naismiths is set to invest in growth over the next 12 months with support from Shawbrook Bank.
The business, which is headquartered in Birmingham and employs 60 employees across the UK, is planning to expand its workforce by 15% across its national office network following a record year for the firm in 2021.
The company is targeting further growth in the regional residential, student accommodation and big box industrial property sectors, and will complement its recruitment plans by expanding its footprint of eight offices, following the opening of new sites in Exeter and Norwich last October.
The firm turned to Shawbrook for a £2m term loan and £500k revolving credit facility to enable the consultancy’s continued expansion across the UK, and to allow the company’s old shareholders bought-out in 2018 to fully exit the business.
The business provides project monitoring and asset recovery services to help protect funders’ investments in new developments. Furthermore, it’s real estate consultancy practice also provides Project Management and building surveying services to investors, developers, asset managers and corporate occupiers.
We saw record demand from the residential sector last year, driven by people’s changing priorities and residential developers are focusing on meeting the growing demand for housing with more green space.
Ben Harwood, Finance Director of Naismiths Ltd added:
“Lifestyle changes have also had a significant impact on the industrial sector. A boom in ecommerce has propelled demand for logistics and warehousing accommodation.
“Our business is focused on having a national reach with regional understanding and working with Shawbrook, who have proven themselves to be a flexible and committed funding partner, is enabling us to extend our reach across the UK.
“As we rapidly grow and put our plans into action it is important that we have a trusted funding partner who can support our long-term strategy. With flexible funding that matches our needs and a strong appetite to really get behind our ambitions, we are pleased that Shawbrook is that funding partner.”
Amy Beasley, Director in the Corporate Lending team at Shawbrook Bank, said:
“Naismiths have a strong track record and an impressive base of high quality customers. We’ve built a solid relationship with them over a number of years and know they are experts in what they do.”
Find out how we can help your business
For your safety, please do not send security details such as passwords by email.
Fields marked with an asterisk are mandatory.