Property developer secures multi-million pound corporate refinance14/01/2016
A multi-million pound corporate refinance of Newcastle-based Lugano Group has recently completed to enable the group to support further acquisitions across the region.
The Lugano Group instructed Newcastle law firm Mincoffs Solicitors to oversee the transaction which was one of the largest in the city’s real estate market for several years.
The Lugano Group is one of the largest investment and development businesses in the North East, with a land and property bank in excess of £120 million, with properties from Northumberland down to Staffordshire.
Among its assets are the Kensington House Aparthotel and the former Gresham Hotel in Jesmond, Newcastle, properties at High Bridge and Gallowgate in Newcastle City Centre, Moongate House on Team Valley and the 2,500 acres Dissington Estate in Northumberland.
The Corporate and Real Estate teams at Mincoffs Solicitors advised the Lugano Group on this deal. Partner Paul Hughes, who heads Mincoffs’ specialist banking and finance team, assisted by solicitor Chris Hughes, carried out the secured lending work. Mincoffs’ Real Estate Team, led by Partner Ryan Bannon handled the real estate aspects for the Lugano Group.
Richard Robson, Chairman of the Lugano Group said: “We are thrilled to have completed this major transaction which will underpin our future growth and expansion plans. Mincoffs have played a critical role in advising and supporting us in this deal and they are an important and valued partner in delivering many of our projects.”
Paul Hughes, Partner in the Banking and Finance team at Mincoffs Solicitors said: “We have worked with The Lugano Group for many years and are very pleased to have played a key role in securing this new funding deal which will enable them to continue with their ambitious growth plans.”