The senior debt facility is 60% LTGDV and will be used to convert the property into three houses.

The 1.67-acre site is located 10 miles south of Cambridge, with the town of Saffron Walden being the administrative and commercial centre of the Uttlesford district.

David Alcock, managing director at BLEND, said this deal highlighted the importance of understanding a developer’s vision for a project.

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“On this occasion, from the point of our first site meeting, it was clear that the developer knew their target market and that they had the requisite experience to deliver this type of conversion into what should be a truly stunning development,” he said.

“The life of a developer has enough challenges that when it comes to picking a lender we try and keep things simple, we’re a lender who understands the development process and the challenges that come with it and why to us, relationship lending matters so much.”