Hampshire Trust Bank (HTB) has completed an £11.9m development facility to fund the delivery of 58 new homes in Ashford, Middlesex.

The scheme will deliver residential flats with full planning consent in place, brought forward for open market sale as part of a phased delivery strategy.

HTB revealed that the site had been acquired via share purchase, and the facility was structured to align with a sales-led exit.

The deal was introduced by Alex Kotelawala of Pronto Management Consultants, a specialist advisory firm in structuring debt facilities for complex real estate transactions.

HTB also confirmed the project will be delivered using Insulated Concrete Formwork (ICF) construction, which was selected for its sustainability and thermal performance benefits.

“This was a sophisticated transaction with multiple moving parts, from ICF construction and a share purchase structure to a sales-led exit,” head of origination, development finance at HTB, Rob Syrett, commented.

“Our role was to structure a facility that aligned with the client’s objectives while managing the complexity around multiple stakeholders.”

Kotelawala added: “This deal brought together some of the trickiest elements in development finance – from a share purchase acquisition and subordinated mezzanine facility to ICF construction and a sales-led exit.

“Our focus was on shaping a funding package that balanced risk and reward while keeping everyone moving in the same direction.”

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