The stretch senior loan was agreed on a 28-month term and proposed resale will be the exit strategy.

The facility will assist with the re-financing of the site and then subsequent conversion of the three vacant office buildings into 103 one- and two-bedroom apartments.

The scheme is located less than one mile from the town centre and has resident benefits including at least one allocated parking space per unit, a limited premium locally, and access to the communal gardens surrounding the lake with ground floor units also having private terraces.

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It offers both 6.8 acres of private green space and a short 35-minute commute into London Waterloo.

Tim Phillips, lending director at Zorin Finance, commented: "In a challenging environment, it has been an absolute delight working with Stonegate Homes on this transaction, and I look forward to strengthening and growing our relationship in the months ahead."

Jeremy Hinds, founder of Stonegate Homes Limited, added: “Zorin’s commitment to finding solutions and supporting us through this transaction are testament to the calibre of their team.

“We look forward to working with them on this scheme and into the future."