Afton sweet on £2m deal for Clydesdale Bank funds

Scottish property investment firm Afton Group has agreed a £2 million funding package with Clydesdale Bank which will help it to buy two more commercial sites.

The Edinburgh-based group is using the funds to renew some of its existing debt facilities and to acquire the two properties in the Scottish capital’s Morningside area, with a total of about 1,000sq ft of space. Tenants are being sought for one of the properties while the other has an existing leasing agreement in place.

Managing director Michael Tasker said: “Though the Scottish commercial property market shows only initial signs of recovery, we were interested in acquiring these properties as they are ideal starter office units.”

Afton Group owns a range of commercial and residential properties in Edinburgh, Glasgow and London. The second generation family business has been working in partnership with Clydesdale since Afton’s inception in 1975.