The £3.995m loan is backed by assets with a combined market value of £6.7m, reflecting a 60% LTV structure.

The development will deliver 10 homes, including six restored from 16th and 17th-century buildings and four timber-frame new builds.

The funding structure includes recycling £200,000 of sales proceeds and deferring part of the developer’s equity contribution into construction.

The refinance was completed under a fixed deadline to avoid penalty charges on an expiring short-term facility.

The bank agreed the facility at 70% LTV, equating to 77% of the purchase price for the vacant commercial property.

The Croydon asset covers 4.6 acres and around 186,500 sq. ft of open storage space.

The 40-apartment development across three blocks received a dual-facility solution combining a five-year investment loan with a three-month developer exit bridge.

Cortland at Colliers Yard is a 50-storey BTR development with 559 apartments

219 student apartments will be delivered through the south London conversion.

The deal follows a £556,000 residential bridging loan announced by the bank earlier in January for a London investment property.