We are pleased to announce that we have been appointed to the Development Bank of Wales’ new Property Legal Services panel.
Under the contract, which will run for two years with the option to extend for a further eight, our lawyers will provide support and advice in relation to property loan size applications to the Development Bank of over £1 million.
The news follows our reappointment to the Development Bank of Wales’ legal panel in 2022, providing advice in relation to debt and equity investment and commercial contracts across the Bank’s portfolio, as well as property development advice to the Bank’s operation in the north east of England.
The Development Bank of Wales, one of the UK’s largest regional SME investment companies, was established by the Welsh Government to help businesses get the finance needed to start up, strengthen and grow. It offers flexible finance for businesses based in Wales, of up to £10 million, in the form of secured and unsecured loans and equity.
Peter Hurn, Partner and Head of Commercial Property, said:
“We’re proud to have been appointed to this panel. Hugh James has supported the Development Bank of Wales, including its predecessor body Finance Wales, for 17 years, and we really value our long-running, successful relationship.
The Development Bank plays a vital role in Wales, and we’re pleased to be able to support it to achieve its mission to unlock economic potential and enhance the economy through sustainable, effective finance.”
Neil Maguinness, Chief Risk Officer at the Development Bank, said:
“We’re glad to have appointed Hugh James to our framework, continuing our nearly two decades working together. We’re pleased to be extending our links with a major Welsh firm and look forward to continuing our relationship with them during this term.”
