Hampshire Trust Bank (HTB) has completed a development finance facility of over £20m to refinance a strategic land portfolio for a UK investor.
The facility is secured on development land across the South East and Midlands, with planning permission in place for a pipeline of new homes.
The borrower will use the loan to help sell consented sites to UK housebuilders and its own housebuilding arm.
HTB structured the facility to allow for phased sales, changing planning positions and a portfolio owned by multiple companies.
The deal was introduced by GHJ Advisory.
Tim Mycock (pictured), lending director with the development finance team at HTB, said: “This was a highly structured facility that needed to reflect both the composite nature of the portfolio and the needs of an experienced land investor.
“We were able to bring real clarity to the structuring, while maintaining the flexibility the borrower required.
“It was a great collaborative effort across our team and with the broker, and I am pleased we were able to deliver exactly what was needed to support the borrower’s objectives.”
John Fay, director of GHJ Advisory, said: “GHJ Advisory was delighted to introduce this opportunity and collaborate with HTB in providing this significant facility for our long-standing and valued client.
“This respected UK investor sought speed, accuracy and professionalism, all of which HTB delivered in spades.
“A great team effort by both the HTB central team and the GHJ broker.”
Neil Leitch, managing director of development finance at HTB, said: “There is strong demand in this market for lenders who can provide certainty and structure for land transactions.
“Investors need funding they can rely on, particularly where there are phased exits, evolving planning positions and multiple ownership layers involved. This is exactly where HTB can add value.
“I am pleased to see us continuing to support experienced land investors with a facility that meets their real-world requirements, and we look forward to building the relationship further.”
