Metro Bank

Metro Bank supports acquisition of £4.1m Newcastle site

Metro Bank has provided a multi-million-pound loan to help with the acquisition of a £4.1m site in Newcastle.

Malhotra Group will use the funding to acquire a historic Grade II-listed building, which will be used for commercial investment purposes and as the commercial property specialist’s new head office.

The group is also in talks with the bank to refinance its care home portfolio and provide funding for the development of a new hotel in the North East.

Mark Stokes, managing director of commercial banking at Metro Bank, said that it was delighted to help the team at Malhotra Group expand its extensive portfolio.

“Through our face-to-face approach, we were able to grasp [its] vision and deliver a tailor-made agreement in less than four weeks.

“We look forward to strengthening our relationship with them over the years to come.”

Malhotra Group is a family-owned company with over 25 years of experience in commercial property.

It also operates a specialised healthcare group, a national property portfolio and has a leisure arm that incorporates restaurants, bars and hotels.

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