Overview
Hampshire Trust Bank (HTB), in a transaction introduced by P10 Financial Group, provided a £2.4m development finance facility to support the delivery of a mixed-use scheme in Mitcham, South West London. The development comprises eight residential units and two commercial units, bringing new homes and modern commercial space to a high street site undergoing regeneration.
The Challenge
The borrower required a funding partner that could support the project as it evolved and respond to challenges without slowing delivery. The scheme was progressing on a regenerating high street site and needed a facility structure that could accommodate changing circumstances while maintaining certainty.
The Solution
HTB provided a £2.4m development finance facility designed to support the borrower through a project with shifting requirements and practical delivery challenges. Rather than applying a rigid structure, HTB worked closely with the broker and client to adapt the facility as needed, ensuring it remained appropriate to the evolving nature of the scheme.
Key features of the deal:
- £2.4m development finance facility for a mixed-use development
- Structured to accommodate planning-related delays
- Flexible approach to reflect evolving project requirements
- Close collaboration with the broker and borrower to keep the scheme progressing
Execution
The transaction was introduced by Jack Grey, Associate Relationship Manager at P10 Financial Group. The deal was led by Sarah Dix, Lending Director at HTB, with support from Athens Piponides, Scott Apps and Gemma Phyphers.
The Outcome
- £2.4m development finance facility provided
- Mixed-use scheme supported through planning-related delay and evolving requirements
- Eight residential units and two commercial units able to progress
- Borrower supported through early-stage contractor engagement challenges
- Scheme continued to support local high street regeneration in Mitcham
What This Demonstrates
Flexibility
HTB’s approach shows the importance of flexible funding structures when projects encounter delays, changing requirements and on-site challenges.
Collaboration
Close alignment between HTB, P10 Financial Group and the Borrower helped ensure the facility remained suitable as the project developed.
Supporting Local Regeneration
The transaction highlights the role specialist development finance can play in helping smaller-scale schemes deliver new home and commercial space in established urban areas.
Client & Partner Feedback
Jack Grey, Associate Relationship Manager at P10 Financial Group, said:
“This is a longstanding client relationship, and the project required a lender that understood both the scheme and the client’s objectives from the outset. While the development presented challenges, a collaborative approach between lender, adviser and borrower ensured these were worked through and the facility remained aligned to the needs of the scheme. It will be positive to see the site transformed into well-designed apartments and modern commercial space for the Mitcham community.”
Conclusion
This case highlights HTB’s ability to provide structured, flexible development finance for projects that do not follow a straightforward path from planning to delivery. By working closely with the broker and borrower, HTB was able to support a mixed-use scheme through delays and evolving requirements, helping to bring forward new homes and commercial space as part of Mitcham’s ongoing regeneration.