Cambridge & Counties Bank Provides New Facility to Dudman Group to Support Redevelopment of Shoreham Cement Works
The redevelopment of the Shoreham Cement Works, located in the South Downs National Park, has taken a step forward following a new funding facility from Cambridge & Counties Bank to Dudman Holdings Ltd, the site’s current owner. Working closely with local stakeholders, including the National Park itself, the aim is to work towards an effective remediation of the site - the largest brownfield site in the South East - that is also in keeping with its setting.
Southwick-based Dudman Group of Companies are one of the region’s leading independent suppliers of aggregates and ready-mixed concrete together with recycling and logistics.
Working across the South coast with a haulage fleet of 56 vehicles, the Group operates out of depots across Sussex and Hampshire. The business services customers across the whole construction sector, from SMEs to major national names, together with a large customer base of builders’ merchants. The Group has operated out of the Shoreham site since 2006.
Cambridge & Counties Bank, the specialist property lender, has provided an initial five-year loan to the Dudman Group to enable the Group to progress its strategic ambitions for the site.
Neil Reddington, Business Development Manager, Cambridge & Counties Bank, said:
“We have worked very closely with Kevin and the management team at Dudman Group as they look to the future of the Shoreham site. We look forward to seeing the next phase of this initiative.”
Kevin Curran, Finance Director, Dudman Group, said:
“There has been strong political and local pressure for many years to remediate the Shoreham Cement Works site into something more in tune with the surrounding area. We are dedicated to delivering an outcome that is acceptable to all stakeholders. Cambridge & Counties Bank has been a key partner to the Dudman Group across this initiative, and it has been a refreshing change to find a bank and its people who act in such an efficient and professional way.”
The solicitors acting for the Bank were Freeths.