“Supporting a project of this scale demands structuring expertise and a clear understanding of complex planning frameworks, which is exactly where HTB adds value”
– Tim Mycock – Hampshire Trust Bank
Hampshire Trust Bank (HTB) has completed a £17.1 million facility to refinance land for the next stage of a major regeneration project in Luton. The scheme is set to deliver more than 500 new homes alongside commercial, retail and leisure space as part of a wider, multi-phase masterplan.
The development already has full implemented planning consent. Phase two includes 592 residential units across three tower blocks and a 260-space car park. The developer is also seeking amendments to increase the height of two towers and convert the car park into a multi-storey facility, improving both density and amenity.
The facility, arranged with real estate finance specialist SHC Capital, refinances the developer’s existing land loan and prepares the site for construction, which is expected to begin in 2026.
With a borrower structure involving overseas investors, a changing planning framework and a large-scale phased delivery plan, the transaction required detailed structuring and confidence from HTB’s Development Finance team.
The deal was led by Lending Director Tim Mycock, Senior Relationship Manager Lucas Cutts, and HTB’s Development Finance team.
“This was a sophisticated transaction that required precision and collaboration,” said Tim Mycock, lending director at HTB (pictured). “The £17.1 million facility provided the certainty and flexibility needed at a pivotal stage, positioning the site for its next phase of development. Supporting a project of this scale demands structuring expertise and a clear understanding of complex planning frameworks, which is exactly where HTB adds value. Complex schemes like this rely on close collaboration, and SHC Capital were instrumental in helping us deliver a solution that met the developer’s objectives.”
“This exciting project is at a critical stage and the refinancing of the land loan was integral to the developer’s strategic goals,” said Tony Tadros, director at SHC Capital. “So it was a privilege to work with HTB’s highly experienced team, who showed themselves to be agile and able at every step of the way, on an intricate refinancing deal. With planning permission and time in place, we look forward to seeing how this scheme takes shape in 2026 – and to working again with Tim and his team at Hampshire Trust Bank.”
“Schemes of this size don’t move forward without conviction,” said Neil Leitch, managing director of development finance at HTB. “Complex borrower structures, multi-phase masterplans and ambitious planning amendments demand experience and pragmatism. That is where specialist lenders add real value. At HTB we bring both the certainty of funding and the structuring expertise needed to progress major projects. We are delighted to be supporting a first-class developer and look forward to building a long-term relationship as the wider regeneration comes to life.”
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