Clydesdale completes multi million pound property deal

12/04/07

Clydesdale Bank, Scotland's best performing business bank, has completed a £5m deal that will enable Rosebank Property Ltd, a new specialist property company, to build up a property portfolio of care homes for people with learning disabilities.

Alan Hamilton, Director of Specialist and Acquisition Finance at Clydesdale Bank commented:

"The flexible funding package supplied by Clydesdale will help Rosebank to acquire a number of properties throughout Scotland over the next 18 months, which will help play a key role in the company's expansion plans.

"Supporting local indigenous businesses - from nurturing and supporting their ambitions, to raising finance and helping them to meet growth plans - is something that Clydesdale Bank is fully committed to.  Rosebank Property Ltd has a solid management team, and we recognise the value that partnering successful Scottish businesses such as this brings to the local area."

Paul Neeson, Chairman at Rosebank Property Limited added: "This funding package will help us to establish a property portfolio that will be used to provide specialist care to the learning disabilities sector.  We have looked across Scotland, and have several potential properties lined up. 

"This is an exciting step forward for the company and one that will allow us to grow and remain competitive in the marketplace," he said.