The £56m scheme, comprising 169 high-specification letting apartments and ground floor commercial space, has been completed by international real estate development and investment company Gold Wynn.

While nearly complete, all 169 apartments required final sign-off and were vacant at the point of lending.

However, given the background of the sponsor, the quality of the accommodation offered and the development’s proximity to Heathrow Airport, tenant demand was expected to be strong.

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The purpose of the loan, structured by Martin Cameron, business development director in UTB’s Structured Property Finance team, was to refinance Gold Wynn’s existing facility to reduce ongoing finance costs and release equity to be employed in another pipeline development in London.

Mark Shooter, director at Gold Wynn Heathrow, commented: “We were impressed with the way Martin and the UTB team approached and executed this transaction.

“From the outset, they demonstrated a clear understanding of the scheme, our wider investment strategy and the importance of delivering a facility that reduced our finance costs while positioning the asset for long-term hold.

“The process was efficient, collaborative and solutions-driven, and we look forward to building on this relationship in the future.”

Martin added: “We were delighted to assist Gold Wynn with this facility, and it was a pleasure working with Mark and the highly experienced and knowledgeable Gold Wynn team to complete this substantial loan.”