More corporate finance success for Hunter Gee Holroyd
Leading chartered accountancy and business advice firm, York-based Hunter Gee Holroyd, has recently completed a complex corporate finance deal for Filey-based Pinder Landscapes to fund the purchase and development of five housing plots in East Yorkshire, in a deal worth £200,000. This brings the total amount of corporate finance arranged for companies in the region over the past 12 months to over £1.6 million.
The plots, in Burton Fleming, were purchased from the administrators of a building company which had gone into liquidation, and involved Hunter Gee Holroyd working closely with Pinder Landscapes to put together a competitive offer to the Administrators to secure the purchase of the plots.
Through the company’s membership of ‘The Corporate Finance Network’, Hunter Gee Holroyd contacted professional property lender Bridging Finance Ltd., based in Manchester. After intense negotiations with its Corporate Development Team, Hunter Gee Holroyd secured an offer for the £70,000 loan needed to supplement Pinder Landscapes existing funds to complete the purchase and start the development project. Pinder Landscapes was then able to submit a firm offer to the Administrators before the deadline date and as funding could be proven, the offer was accepted.
Mark Grewer, Hunter Gee Holroyd’s Head of Corporate Finance commented: “Demand for our Corporate Finance service continues to grow, and we have worked on a number of interesting projects in the last 12 months helping clients to raise a significant amount of funding.
For Pinder Landscapes, we knew that securing finance for a small business in today’s economic climate would be challenging, especially for a speculative housing development. Add into the mix complex legal and administrative issues, and it really presented quite a challenge. However, by using our expertise, our positive relationships with other professional services and our contacts through the Corporate Finance Network, we were able to provide an effective solution which is already having a positive impact on their business.”
Dave Pinder, Managing Director of Pinder Landscapes said: “I would like to thank Mark and the Corporate Finance team at Hunter Gee Holroyd for all their hard work and for helping me with the whole process from start to completion. Their membership of the Corporate Finance Network proved a real advantage and I am delighted that we have had a successful result. We are already building on the site and hope to have the first house ready for sale in January.“
The overall value of the Pinder Landscapes Burton Fleming project is £750,000.
Hunter Gee Holroyd is a well-established company offering a range of chartered accountancy and business advisory services throughout North Yorkshire. With a dynamic team of 27 staff plus three directors, it operates from three offices in York, Easingwold and Filey. Its clients include owner managed and family owned companies in the agricultural, legal, coach and construction sectors, plus independent operators offering such things as IT and technology services.
The company is a member of the Corporate Finance Network (CFN) whose members specialise in raising finance for businesses, buying or selling companies, and offering corporate finance expertise on deals with a transaction value of less than £3m. They are the only member of the Network in the York and Harrogate postcode areas.