"The team’s attention to detail and hard work throughout the entire process ensured the deal was executed without any significant challenges."
- Ian Rigby, managing director at Westpoint Homes
Westpoint Homes has secured a £3.2m residential investment loan from Secure Trust Bank (STB) Real Estate Finance. The loan will be used to fund the Glasgow-based housebuilder’s premium Circle Green and The Point complexes for the next five years.
The Point consists of 24 two-bed and three-bed flats in Corstorphine, while Circle Green is based in Newlands with 10 four-bed townhouses.
“From the start, we were seeking a lender that we could build a strong professional relationship with. Ad soon as STB came into the picture, we were able to do exactly that. The team’s attention to detail and hard work throughout the entire process ensured the deal was executed without any significant challenges,” said Ian Rigby, managing director at Westpoint Homes.
This is the fist completed deal between the two parties, which was led by Mike Feasey, relationship director at STB Real Estate Finance. It underlines the bank’s ongoing efforts to drive growth through development finance.
He said: “As a relationship-led bank, it was crucial that we put together a facility perfectly tailored to the client’s requirements. It was easy to build an instant rapport with Ian and the team, and the deal crossed the finish line will relative ease.”
It was brokered by Jamie Davidson at Kilberry Advisory, who most recently secured a £2m loan to refinance a block of 15 flats in Edinburgh.
Clyde & Co, JLL, and the bank’s relationship support specialist, Gerry Dempsey, also supported the completion on this deal.
