Property news - Hercules gets loan boost

The Hercules Unit Trust, managed by Pillar Property, has secured its next phase of expansion with a new£250 million ($440.4 million) loan facility arranged by The Royal Bank of Scotland. The initial properties to be funded are Hercules' retail parks at Rotherham and Dartford, as well as a 50 per cent interest in the limited partnership that holds the Gallions Reach retail park at Beckton, east London. Jones Day advised Hercules. Allen & Overy acted for RBS.