A leading property firm has consolidated and refinanced its portfolio, in a deal worth £17 million, to accelerate the strategic growth of the business.
Tetra Real Estate Limited (formerly the main portfolio of The Wigley Group) based in Stockton in Warwickshire, has consolidated assets from its sister company Waterloo Capital Limited and refinanced the portfolio with NatWest.
Coming three months after Tetra Real Estate and Waterloo Capital were created as part of the strategic reorganisation of The Wigley Group, the deal brings Tetra Real Estate’s portfolio to over £60 million and unlocks additional capital for growth.
Alongside Tetra Real Estate, the restructure formed holding company Wigley Investment Holdings Limited as part of a reorganisation of the Group’s businesses and family assets.
The consolidation and refinancing were orchestrated and managed by Chris Parsons, new Managing Director of Tetra Real Estate and Waterloo Capital.
He said: “This is an exciting time to have taken over the leadership of Tetra Real Estate. By consolidating and by refinancing our portfolio we can accelerate our growth plans following the strategic reorganisation of the business.
“It’s an important next step, which points to a strong outlook, but reflects the foundations which have been put in place by my predecessors, most recently, James Davies and the Wigley team.
“The strength and growth of the portfolio over the last 17 years is what has enabled us to secure the additional capital which will underpin our ambition.”
The deal consolidates a portfolio of commercial properties including industrial units at Endemere Road, Coventry, Nuneaton’s Bermuda Industrial Estate and The Quadrant Industrial Estate.
James Davies, Chief Executive Officer of Wigley Investment Holdings Ltd, who oversaw and delivered the strategic reorganisation of The Wigley Group, said: “Consolidating and refinancing our portfolio will enable future growth within the Tetra Real Estate business. We see a strong 2025 in terms of increasing our portfolio, and we need to be fully prepared to react to the market.
“Under Chris’s exceptional leadership, Tetra Real Estate has a bold and exciting trajectory and I’m proud of the foundations we have laid as we near our 60th anniversary.
“Following the reorganisation of the business, my role is now to support Chris and his team – alongside our other businesses – by focussing on strategic growth and leadership. Whilst I remain passionate about land and property, the time and conditions are right to pass the baton on.”
NatWest has supported the Wigley Family for over 50 years and was fundamental in the reorganisation of its assets.
Andrew McCarthy, Relationship Director at NatWest, said: “With a relationship built over decades, we are proud to be able to support Tetra Real Estate during its next phase of growth. With strong leadership and exciting plans, Tetra Real Estate and the wider portfolio of Wigley Investment Holdings is well positioned to take advantage of future opportunity.
James Polo-Richards of JG Poole & Co LLP acted on behalf of Tetra Real Estate and Waterloo Capital Limited and Mark Lewis of Browne Jacobson LLP acted on behalf of NatWest.
Tetra Real Estate works across the long-term life cycle of light industrial, commercial and land interests in central England.
Picture caption – From left; Andrew McCarthy, Relationship Director at NatWest, Chris Parsons, Managing Director of Tetra Real Estate and Waterloo Capital, and James Davies, Chief Executive Officer of Wigley Investment Holdings Ltd.