A building boom has paved the way for a record year for the corporate finance arm of financial services business Wealthcare.
The Bury-based firm brokered £14m of deals in the first nine months of this year, matching its total for the whole of 2014.
The three months to the end of September saw Wealthcare arrange £7m of finance, a record quarterly performance for the division. Wealthcare brokers business finance with banks, specialist lenders, crowd-funders, private individuals and hedge funds.
The 14 deals in the first nine months of this year ranged in value from £125,000 to £3.7m.
Associate director Martin Simons, who heads Wealthcare’s corporate finance division, said: “More finance is being made available by lenders, and we are seeing more entrepreneurs prepared to take risks.
“Growth has come in the housebuilding sector and in commercial construction, in particular for new healthcare, retail and leisure facilities as well as refurbishment schemes.
“There has also been a noticeably greater appetite for investment in hotels in the north from southern-based and overseas buyers, as they look to extend their portfolios into the regions.”
Mr Simons added: “A wider range funding options is now available and there is more liquidity in the market. The growth in our corporate finance division is also the result of increased business confidence and our ability to access non-mainstream funding options for our clients.
“We expect to recruit further staff during the course of the year to reflect the growing demand for our corporate finance services.”