York build continues after £9m deal
बुधवार, 14 अक्तूबर 2009
A £9m deal has been sealed between property developers Oakgate and Bank Leumi to develop a 30-acre site near York, a move predicted to generate 2,000 jobs.
Some 500,000 sq ft of commercial space at the Vangarde site will see it become the largest of its kind in York, while a 320,000 sq ft data centre, aimed at a global financial firm will be added onto the site, creating construction jobs.
Construction is expected to take two years, with the intervention of Bank Leumi (UK) in funding the project a major step.
Steve Cooper, Bank Leumi (UK) regional manager, told the Business Desk: "We look forward to supporting Oakgate as their plans progress for this major development which will bring huge benefits to the region."
Richard France, managing director at Oakgate Group, said: "This type of deal fitted very well with Bank Leumi's specialist expertise in property finance.
"Unlike many other banks, they were willing and able to support this project and from a financing perspective, it's been as straightforward as it could possibly be at the worst time in banking history."
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