HTB completes £17.1m facility for Luton regeneration scheme

• We’ve completed a £17.1m facility to support the next phase of a major regeneration scheme in Luton.
• The project will deliver over 500 homes plus commercial, retail and leisure space.
• Partnering with SHC Capital, we’ve helped refinance the land and prepare for construction in 2026.

The scheme is set to bring over 500 new homes to the area, along with commercial, retail and leisure spaces as part of a wider multi-phase masterplan.

The development already has full planning consent in place. Phase two includes 592 residential units spread across three tower blocks, plus a 260-space car park. The developer is also looking to tweak the plans to increase the height of two towers and turn the car park into a multi-storey facility, boosting both density and amenities.

We structured the facility in partnership with real estate finance specialists SHC Capital. It refinances the developer’s existing land loan and gets the site ready for development ahead of construction, which is expected to kick off in 2026. With overseas investors involved, evolving planning requirements and a large-scale phased delivery plan, this deal needed careful structuring and a strong sense of conviction from our Development Finance team.

Tim Mycock, Lending Director at HTB, said:

This was a sophisticated transaction that required precision and collaboration. The £17.1 million facility provided the certainty and flexibility needed at a pivotal stage, positioning the site for its next phase of development. Supporting a project of this scale demands structuring expertise and a clear understanding of complex planning frameworks, which is exactly where HTB adds value. Complex schemes like this rely on close collaboration, and SHC Capital were instrumental in helping us deliver a solution that met the developer’s objectives.

Tony Tadros, Director at SHC Capital, said:

This exciting project is at a critical stage and the refinancing of the land loan was integral to the developer’s strategic goals. So it was a privilege to work with HTB’s highly experienced team, who showed themselves to be agile and able at every step of the way, on an intricate refinancing deal.

With planning permission and time in place, we look forward to seeing how this scheme takes shape in 2026 – and to working again with Tim and his team at Hampshire Trust.

Neil Leitch, Managing Director, Development Finance at HTB, added:

Schemes of this size don’t move forward without conviction. Complex borrower structures, multi-phase masterplans and ambitious planning amendments demand experience and pragmatism. That is where specialist lenders add real value. At HTB we bring both the certainty of funding and the structuring expertise needed to progress major projects. We are delighted to be supporting a first-class developer and look forward to building a long-term relationship as the wider regeneration comes to life.

The deal was led by Lending Director Tim Mycock, Senior Relationship Manager Lucas Cutts, and our Development Finance team.