Lincolnshire housing provision bolstered by £120m refinancing deal for housebuilder

LEADING law firm Roythornes Solicitors has played a major part in helping the Allison Group secure a ground-breaking £120 million refinancing deal, spearheading the real estate aspects of the transaction.

The funding consists of a £20 million five-year loan from HSBC and a five-year £100 million Revolving Credit Facility with HSBC and NatWest. This is the second deal Roythornes has helped the group secure, most recently being the acquisition of Larkfleet Homes – previously part of the Allison Group.

In this latest secured deal, the £120 million in funds will be used by the Allison Group to implement its strategic growth plans to build 2,000 homes annually within the next five years across Lincolnshire, Cambridgeshire, Northamptonshire and Rutland, East Midlands, East Anglia and the South West.

Bhavesh Amlani, national head of real estate at Roythornes, said: “We are delighted to have assisted the Allison Group with this important refinancing deal, which will see them move to the next phase of their development plan.

“We pride ourselves on building longstanding relationships with clients, so we’re pleased to once again be a trusted provider for the group and look forward to seeing their successes.”

John Anderson, CEO of Allison Group, said: “This deal will put the company in a stronger position to reach our projected targets and we want to thank Bhavesh and his team, who have all been a great support during the process and helped us to complete the deal within our set time frame. We’re excited to see what the future holds for us.”

Roythornes is a top 150 national law firm and has strategically located offices across the Midlands and East Anglia. The firm’s clients include major blue-chip companies, family businesses and private individuals, based nationally and internationally.

For more information visit www.roythornes.co.uk