Building Society invests in expansion of Silk Mill Business Park

A Hertfordshire based business park has secured funding to allow its business community to grow.

Tring’s Silk Mill, developed by Burns Acquisitions and financed by Principality Building Society, will be extended to allow for over 10 more businesses to trade.

The former Silk Mill is currently home to 60 businesses, with tenants from a diverse range of industries, including professional firms, retail shops and a fitness centre. The extension and refurbishment provided by financing from Principality Building Society will take place over the next two years.

Based in Wales, Principality is the UK’s sixth largest building society. Its commercial division lends across England and Wales, supporting a range of business and residential developments.

Gareth Redding, Senior Portfolio Manager at Principality Commercial, said:

“This is an exciting project that will provide more opportunities for local businesses in Tring. Joe Burns has taken an old silk mill, with its various outbuildings, and created a thriving business community. We have provided solutions for the funding and expansion of the development and we look forward to seeing the business park grow over the coming years.” 

Joe Burns, Founder at Burns Acquisitions, said:

“We’re delighted to be working with Principality to extend the Silk Mill business park, to allow more businesses in Tring to prosper and grow. The Silk Mill is a unique development in that all tenants are encouraged to work together, creating a vibrant and successful business community.”

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