The 88% LTC facility — agreed over a 20-month term — will help the developer deliver 150 studios and one-bedroom flats for sale, ranging from 415 sq ft to 757 sq ft.

Residents will have access to 133 bicycle and 150 parking spaces in the basement, in addition to a number of EV charging points. 

The first homes are expected to be finished in H2 2024.

The residential scheme is located on the edge of the town centre, close to The Lexicon, a new £240m GDV social and cultural hub delivered as Phase 2 of the Bracknell Town Centre regeneration project.

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Jamie Rahder, investment director at Silbury Finance (pictured above), said: “This scheme should serve as a blueprint in using permitted development to transform obsolete office stock into much-needed, well-connected high-quality homes, a far more sustainable method versus ground up development.”

Niten Handa, managing director at Kingsbridge Capital, added: “Occupying a highly desirable edge-of-town-centre site, we look forward to bringing forward our latest residential development, which will complement the town’s extensive retail and leisure offering. 

“Against the volatile economic backdrop, Silbury’s funding expertise in the living sector, evident since the start of the relationship, has been especially invaluable.”