Schofield Sweeney advises on historic property refinancing

Schofield Sweeney has advised a property owner and developer and Barclays on the rapid refinance of a Grade II-listed building in Huddersfield.

Partner Manjit Virdee and solicitor Abigail Falshaw advised property owner and developer Jerry Malik’s S&M Real Estate and Barclays on their multi-million pound refinance and capital raise involving the Britannia Buildings on St George’s Square in the heart of Huddersfield.

The Grade II-listed building, which was built in the late 1800s, comprises a mixed use of commercial space and 24 residential flats. It’s known for its architecture and prominent location next to Huddersfield train station.

The transaction was the first part of S&M’s strategic long-term plans to invest in Huddersfield and the local surrounding areas.

Phil Whitaker, real estate manager at Barclays, put together the funding package for the deal, and said: “Jerry and his team run an excellent business which is investing locally and contributing to the local economy. It’s great to see the business flourish and continue to the next exciting chapter and we look forward to supporting the group as they continue to grow.”

Malik said that his new relationship with Barclays “shows they’re in the market to do business”.

He said: “Since the first moment I spoke to Phil he was straight forward and clear which is the way I like to do business. It’s great that Barclays have an appetite to support the community which is what we hope to achieve.”

Virdee of Schofield Sweeney added: “As always, there is satisfaction in completing a deal especially one where everyone is pulling in the same direction to get things done right and as quickly as possible.”