Hampshire Trust Bank (HTB) has completed a £3.93m development finance loan to support the creation of five pre-let retail units in Faverdale, Darlington.

The site is currently occupied by tenants including Costa Coffee, Greggs, Indigo Sun, Harrison Vets and Fastned (EV charging).

A portion of the site was also sold to McDonald’s, which is constructing its own unit.

The deal with Yorkshire and north east developer, Almscliffe Dhesi, was introduced to HTB by the owner of broke Solutions Northern, John Carling.

The transaction marks the first case completed under HTB’s updated commercial development criteria, which increased the maximum loan-to-GDV ratio to 65%.

HTB added that these changes were introduced to make a wider range of commercial projects eligible for funding, reflecting HTB’s focus on providing solutions to developers.

Managing director for development finance at HTB, Neil Leitch, said: "Pre-let commercial cases like this are a little unusual, but that’s where HTB excels. We pride ourselves on our flexibility, working closely with borrowers and brokers to deliver tailored funding solutions that meet the unique needs of their projects.

"In this case, the developer’s strong track record and the high-quality tenant line-up stood out, making it clear this was a project worth backing. The increase to our maximum loan-to-GDV reflects our commitment to adapting our criteria to open up opportunities for developers, whether in residential or commercial spaces."

Owner at Solutions Northern, John Carling, added: "HTB is doing an outstanding job in development finance, providing funding that genuinely supports both residential and commercial projects. I knew they’d be the right partner for this deal, and they’ve delivered excellent service every step of the way. This level of support is exactly what developers need to bring ambitious projects like this to life."

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