Hampshire Trust Bank (HTB) has completed an £11.9m development facility to fund the delivery of 58 new homes in Ashford, Middlesex.
The scheme aims to deliver high-quality residential flats with full planning consent in place, brought forward for open market sale as part of a phased delivery strategy.
The project will be delivered using Insulated Concrete Formwork (ICF) construction, selected for its sustainability and thermal performance benefits.
The site was acquired via share purchase, and the facility was structured to align with a sales-led exit, requiring a tailored approach to funding and delivery risk.
The deal was introduced by Alex Kotelawala of Pronto Management Consultants, a specialist advisory firm in structuring debt facilities for complex real estate transactions.
The deal was led by Rob Syrett, lending irdector at HTB, with support from Elysia Walters, relationship manager, and Scott Apps, head of distribution, as well as HTB’s credit and legal teams.
Syrett said: “This was a sophisticated transaction with multiple moving parts, from ICF construction and a share purchase structure to a sales-led exit.
“At HTB, we look at projects in their full context. That means not just bricks and mortar, but the business model and delivery strategy.
“Our role was to structure a facility that aligned with the client’s objectives while managing the complexity around multiple stakeholders.
“That’s where HTB adds real value: pragmatic structuring, commercial insight and relationship-led delivery.”
Alex Kotelawala, director of retail and commercial finance at Pronto Management Consultants, added: “This deal brought together some of the trickiest elements in development finance – from a share purchase acquisition and subordinated mezzanine facility to ICF construction and a sales-led exit.
“At Pronto, we take pride in making complex situations manageable. Our focus was on shaping a funding package that balanced risk and reward while keeping everyone moving in the same direction.
“HTB were fantastic partners in that process – pragmatic, collaborative and commercially sharp. Together we delivered a solution our client could have real confidence in, and we’re excited to build on this success with HTB in future projects.”
Legal support on the transaction was provided by Muckle LLP.
Claire Naughten, senior associate in the real estate finance team, led the transaction, with Georgia Sproat (solicitor) advising on the security and intercreditor arrangements and Ross Galbraith (partner) leading on the construction elements.
Naughten concluded: “We were delighted to support HTB on a transaction that demonstrated real depth of thinking and collaboration.
“The share acquisition and ICF elements added complexity, but a focused, solutions-led approach across all parties ensured a smooth progression from instruction to close.”
