Dransfield announces new banking partner for Fox Valley development
Dransfield Properties’ award winning Fox Valley development in north Sheffield has secured a ten year funding package for £24.85m from Rothschild & Co with whom it has a long standing relationship. The new funding package will enable the company to plan more effectively for the centre’s future growth and success.
Fox Valley opened in June 2016 with a successful line up of national, regional and local operators. The centre is home to brands including Seasalt, JoJo Maman Bebe, Next and Sports Direct as well as key independent retailers including Sanderson’s Boutique Department Store and the first Ponti’s Italian Kitchen outside London. The development also comprises 60,000 sq. ft. of high spec office space and a new housing development delivering 118 executive homes is underway on a neighbouring site.
The centre’s final available retail unit has been taken by Boots and the health and beauty retailer will open its new 6,000 sq. ft. Fox Valley store in March this year. Work also starts later this year on the construction of a new concept Keelham Farm Shop at Fox Valley – bringing a completely new offer to the centre.
Mark Dransfield, Managing Director at Dransfield Properties, said: “Fox Valley is our largest development and we are delighted to be able to plan for its long term future by agreeing a ten year funding package.
“2018 is a big year for Fox Valley, we are seeing the success of the centre in its first two years really consolidate as a new retail and commercial destination in this part of South Yorkshire.
“We are looking forward to the opening of the new Boots store in the final available unit and also being back on site to deliver the final phase of work with a brand new Keelham Farm Shop here at Fox Valley. We are delighted to be moving into this next phase with our banking partners from Rothschild & Co.”
Stephen Pye, Director at Rothschild & Co, commented: “We are delighted that we have been selected by Dransfield Properties to provide long-term funding for Fox Valley, which consolidates our existing relationship with the company. The new finance agreement is provided through Rothschild & Co’s Real Estate Debt Management platform which offers senior debt facilities, secured against commercial real estate, with a particular focus on the regional property markets.
“Dransfield’s vision for Fox Valley has created a scheme of exceptional quality. It has transformed the retail and leisure provision within Stocksbridge and across a wider catchment, attracting major national retailers into the area alongside good quality local, independent businesses. We look forward to continuing our relationship as the final phase of works is completed.”
For further information, contact:-
Public Relations Department, Dransfield Properties Ltd
Tel: 01226 360644