Business park lands seven-figure funding boost

A specialist lender has expanded its backing of a business park redevelopment in West Cumbria.

Reward Funding has increased its existing seven-figure facility for Cleator Mills Business Park, enabling the client to release capital from the completed redevelopment and reinvest into new projects across South West Scotland.

The original funding supported the transformation of a disused site, including a derelict mill, into a fully operational business park. 

Key milestones included the delivery of space for Speedy Hire and the redevelopment of the mill, now occupied by React Engineering.

With the asset now complete and tenanted, the latest funding will allow the developer to leverage its value and pursue further acquisitions and housebuilding opportunities.

Mark Walker, managing director of Cleator Mills Business Park, said: “Reward was the obvious choice for a funding partner from day one. 

“The original deals helped us acquire and develop Cleator Mills into a thriving commercial site. 

“The mill has brought immense value to the community, developing a run-down derelict site into an attractive commercial space, including a café that is open to the public, bringing jobs to the local area.

“Reward’s willingness to increase our facility at this stage reflects the strength of our relationship and their confidence in our track record to date. 

“The additional funding will support our next phase of growth, including some housebuilding development opportunities in a new region.”

The deal marks the third stage of support from Reward, reflecting its ongoing role in backing clients through redevelopment and reinvestment as they scale their portfolios.

Gareth Boardman, relationship manager for Reward Funding, added: “We’re very pleased to continue our support of Mark and Cleator Mills. 

“The transformation of the site has been truly remarkable, with the completion of high-quality units and high-value tenants generating strong rental income. 

“This is a reflection not only of our client’s ability to deliver high-quality projects, but also the vision to achieve such an impressive outcome.”

“We’ve backed this project from acquisition, through development and now to stabilised income. 

“Because we understand both the asset and the operator, we can move quickly to support businesses when the next opportunity appears.”

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