HTB provides £11.9m funding for major Sheffield city centre conversion

• £11.9m provided to transform the Synergy Building in Sheffield into 108 private-sale apartments, addressing the high demand for city centre housing.
• Our expertise in large-scale residential conversions ensured the project moved forward efficiently, aligned with its long-term goals.
• Key partners included CapitalStackers, Eddisons, Watts, and Glovers, all working closely with us to deliver a seamless transaction.

With the demand for high-quality city centre housing on the rise, this project will bring much-needed homes to Sheffield and support the city’s broader regeneration efforts. Our funding structure made sure the project could move forward quickly, showcasing our expertise in supporting ambitious residential conversions.

Mike Collins from Societas Capital introduced this transaction, and it needed a lender who could offer a flexible facility and deliver fast. Thanks to our experience in funding large-scale conversions in regional city centres, we ensured the financial structure supported the project’s timeline and long-term goals.

The facility was structured at 65% Loan to Gross Development Value (LTGDV), with CapitalStackers providing mezzanine funding. Eddisons acted as the valuer, Watts as the monitoring surveyor, and Glovers as the legal counsel, all working closely with us to ensure everything went smoothly.

Russell Higgins, Lending Manager, said:

This transaction highlights the strength of the market for well-located city centre developments and the role specialist lenders play in supporting ambitious schemes. The project is already progressing at pace, with strip-out works well underway and strong pre-sales reflecting market demand. Structuring the right financial solution within a tight timeframe was key, and it’s great to see this development taking shape. We look forward to supporting similar projects that contribute to the regeneration of regional city centres.

 

Mike Collins, Managing Director at Societas Capital, said:

This deal required a lender that could act decisively and structure a facility that worked for all parties involved. HTB’s ability to move quickly, work collaboratively, and provide tailored solutions made a real difference. It’s great to work with a lender that understands developers’ needs and can deliver funding that fits the realities of the market.

Neil Leitch, Managing Director of Development Finance, added:

City centre regeneration is something we’re seeing a lot more of, especially in regional hubs where demand for high-quality housing is only growing. These projects don’t just need funding—they need the right kind of funding, structured in a way that works for the developer and keeps the project moving at pace. That’s where specialist lenders like HTB come in. We take a hands-on approach, working closely with brokers and developers to structure deals that fit the realities of the market. This kind of project is exactly what we’re here for—helping developers bring great schemes to life, even when timelines are tight, or complexities arise.

 

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