PMJ Capital

PMJ Capital lends £1.6m for retail development in Stoke-on-Trent

PMJ Capital has completed a £1.6m loan for Muller Property Group’s new retail development in Sandyford, Stoke-on-Trent.

The facility — agreed at 63% LTGDV over a 12-month loan — funded the entire build cost of the scheme, which comprises a Costa Coffee drive-through, Tesco store and two additional units.

David Rainford, managing director at PMJ Capital, said: “We have known the team at Muller for many years and have a built a strong relationship, funding numerous projects.

“This latest scheme sits in a prominent location in the centre of the high street, with easy access to major transport links.  

“It has been a pleasure to be able to support Muller on this project.” 

Phillip Johnston, finance and operations director at Muller Property Group, added: “I’d like to extend my thanks to PMJ in funding this project. 

“Its approach to lending is completely refreshing to others we have worked with.

“We were delighted to sign up both Costa and Tesco as occupants at this scheme and look forward to finalising occupants for the two remaining units. 

“The development will not only provide regeneration for the area, but create many new jobs for the local community.” 

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