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new build

Secure Trust Bank's Real Estate Finance (STB REF) team is funding the development of ten new homes in Sidcup, south‐east London.

STB REF has agreed a refinance and development finance funding package, totalling £3,069,000, with Hatherley Investments Ltd for the construction of three 3‐bedroom townhouses and seven 2‐ bedroom apartments on Hatherley Road.

The homes are due to go on the market in early 2021.

Michael McCarthy from Hatherley Investments said: "The Covid‐19 pandemic has created additional challenges for residential developers but throughout the crisis we have received excellent support from Secure Trust Bank, which has enabled us to keep the development on track."

James Conolly, STB REF relationship director, said: "Having recently visited Hatherley Road, I was pleased to see the development progressing well, despite the obvious challenges of operating during these difficult times.

"SME developers are a vital cog in the delivery of new homes and we're pleased to be supporting Hatherley Investments with its latest scheme."

Secure Trust Bank's Real Estate Finance Team provides lending facilities of £1m‐£45m to residential and commercial property developers and investors, from SME housebuilders to UK‐based funds. The bank has committed £100m specifically to assist SME housebuilders and property developers to get their projects off the drawing board and on to site, with flexible loans of £1m - 5m.