The firm required the facility — agreed at 65% LTGDV and priced at 5.99% over a 24-month term — for the purchase of a site in Southwark, London, and the construction of six apartments and three town houses.

The £8.5m GDV scheme is set to be completed in spring 2023.

This is the third development that Arc & Co. has supported Farleigh on, as the developer expands its output of residential-lead schemes across London and the South East.

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Julian King, director within the structured finance team at Arc & Co, said: “It’s a pleasure working so closely with the team at Farleigh and to see the company grow from strength to strength. 

“Farleigh has a very strong product in today’s demanding residential market and knows exactly how to deliver it on time and on budget, further proven by the record sales achieved on each of its sites.”

Robert Mulligan, co-founder of Farleigh Property: commented: “Working with Arc & Co. has given us the confidence to build on our success in Bath and Bristol, and to focus on growth in London and the South East. 

“Julian’s in-depth knowledge in development and structuring debt, coupled with his relationships in the lending market has enabled us to partner with some of the industry’s best lenders. 

“We are looking forward to seeing this latest acquisition come out the ground in Q1 2022.”

Will Powell, lending director at HTB, added: “It is always a pleasure dealing with the team at Arc & Co and our latest completion of a well-designed scheme of houses and flats for Farleigh Property is an excellent example of the quality of business in the market at the moment.  

“Farleigh Property is a returning customer of the bank and the loan was drawn down under exacting time pressures, owing to the structure of the purchase agreement.”