Arbuthnot Latham helps existing client with their continued growth strategy

Arbuthnot Latham & Co., Ltd is delighted to announce their continued support to existing client, the Westcombe Group, with an additional £4.5m loan for the refinance of existing external lending.

Westcombe Group was founded by Vraj Pankhania, who has run the group since it was founded more than five decades ago.

Their primary focus is on the development of premium residential properties; however, the group has also diversified into hotels.

The Westcombe Group have worked with their relationship manager Justin Snoxell for some time, and he has previously structured finance for the group to allow them to refinance with Arbuthnot Latham and expand their property portfolio in line with their growth plans.

Arbuthnot Latham worked quickly to execute the new funding arrangements under the Recovery Loan Scheme. Coupled with the excellent management team at The Westcombe Group, all timescales were met allowing the facility to progress swiftly.

Justin Snoxell, Senior Commercial Banker at Arbuthnot Latham, said “It was a pleasure to continue our partnership with Kamal and the Westcombe Group and to structure and provide additional funding to allow their continued growth and diversification of their property portfolio. We now look forward to working with the team on further opportunities to grow the relationship and support their strategy in the UK.”

Kamal Pankhania, Group Managing Director & Chief Executive of the Westcombe Group commented “Our long relationship with Justin started back in 2011 and we have maintained contact since then. Arbuthnot Latham were once again able to support our funding needs and Justin provides the strength in knowledge, and we have a relationship that allows us to have confidence in ongoing financial support and a bank that understands our vision.

“We continue with our core strategy to maintain and grow existing assets. This will be completed by creating additional value through development of property and enhancement of rental income streams. Our long-term plans are exceptional. As one of the largest private developments companies in the UK, we are growing at a substantial rate with our current and forthcoming mixed used schemes in our development pipeline.”

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