This builds on an initial £3.45m and will support the developer, Bruckland Developments, in upgrading its nine-home development in Felbridge.

The additional finance and planning permission provide Bruckland Developments with the option to reconfigure some of the internal layouts to maximise the space for future occupants.

This finance carries a 21-month term and a LTGDV of 65%, and marks the fourth loan issued by STB to Bruckland Developments since 2020.

The properties are being built on a new private road to the rear of Rowplatt Lane and two have already been sold, with a further five already reserved. STB also arranged a partial release of sales funds back to Bruckland Developments to help prepare for their next development together.

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“It’s always a pleasure working with STB,” said Joe Bruckland, managing director at Bruckland Developments.

“Over the past five years, the bank has become a trusted partner, consistently providing facilities that align perfectly with our own business plans as we continue to grow our portfolio.”

The deal was led by Richard Lynn, senior relationship director at STB Real Estate Finance, with the support of James Reeves, whom Richard is mentoring to become a relationship director.

Richard added: “We are proud to support Joe and Bruckland Developments with this latest facility, which reflects the strength of our longstanding relationship.

“After hearing about new opportunities provided under the improved planning permission, we immediately put together another facility that could enable the upgrades and add real value to the homes.”