Secure Trust Bank has launched a £100m Property Conversion Fund dedicated to boost the levels of commercial and residential development…
The challenger bank has reacted to the Government’s commitment to creating a £1bn ‘brownfield regeneration fund’ aimed at creating 275,000 affordable properties.
Secure Trust Bank’s Real Estate Finance arm advanced over £135m of funds to customers last year, financing development projects across the UK.
Recently, Secure Trust Bank has worked with developer Grainmarket Properties on a £6.4m internal reconfiguration scheme in Slough to transfer an office space into 54 apartments and has also provided £4m to York Capital Management to convert three upper floors of retail space into 28 flats.
Paul Marston, Managing Director of Secure Trust Bank Business and Commercial, said with the Government’s pledge to address the housing shortage through a number of new brownfield initiatives, the next few years would be exciting for real estate development.
“The market is continuing to see an increased appetite from property developers looking to revitalise unloved suburban areas with innovative new commercial to residential schemes,” said Paul.
“This new fund will diversify our offering and help to boost the volume of affordable and high-spec residential developments in cities and out-of-town locations across the UK.”
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