Sancus Finance

Sancus provides £12m for Scottish development

Sancus (Gibraltar) Limited – part of the alternative financing group Sancus – has provided a £12m funding package to Green Town (Heartlands) Ltd for a high-profile Scottish development.

The Heartlands development is situated along the M8 corridor and spans around 1,400 acres, which – once completed – will comprise residential, business and leisure facilities.

The £12m funding will refinance and provide working capital facilities in connection with the development that aims to provide residents with a sustainable way of living through recycling and reusing natural resources.

Sancus was advised by law firm Shoosmiths led by senior associate and real estate finance specialist Sheelagh Cooley and banking associate Jen Paton.

Sheelagh stated: "We are extremely pleased with the pace and successful outcome of this project for Sancus and wish both parties involved the very best in their ongoing relationship.”

Andy Whelan, CEO of Sancus, added: "The commercially astute advice and dedication provided by the Shoosmiths' team ensured the funding deal was completed within a short timeframe.

“We look forward to working with the team again on future projects.”

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