HTB provides £2.8m loan for Bristol office conversion

Hampshire Trust Bank’s (HTB) property finance team has supported Spaceworks with a £2.8m loan to fund the conversion of a period office building in Bristol (pictured above).

The specialist regeneration developer plans to convert the building in the centre of the city into 32 apartments, comprising a mix of studio, one- and two-bed flats. 

The Century Place scheme has a GDV of over £5.3m and is based near Bristol’s main shopping area Cabot Circus. 

HTB refinanced the bridging loan the developer initially used to purchase the site, giving them the time to extend the permitted development rights from 26 to 32 units, restructuring and increasing the loan part way through.

Jonathan Scott, regional lending manager for the South West at HTB, said it was delighted to be supporting this project and the experienced team at Spaceworks.

“As a specialist in property development finance, we are able to provide flexibility, helping to ensure our customers never miss out on the right opportunity and are keen to work with other experienced property professionals across the South West and beyond.”

Tim Buxton, director at Spaceworks, said it had established a strong relationship with Jonathan and HTB.

“We have found them to be proactive, anticipating what we need and when, and fast, always delivering on what they say. 

“The ease of dealing with them and their strong support has meant we are keen to build this relationship and work with them on many of our other projects.”

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