“Our role was to structure a facility that aligned with the client’s objectives while managing the complexity around multiple stakeholders. That’s where HTB adds real value: pragmatic structuring, commercial insight and relationship-led delivery”
– Rob Syrett – Hampshire Trust Bank
Hampshire Trust Bank (HTB) has provided an £11.9 million development facility to fund 58 new homes in Ashford, Middlesex. The scheme will deliver high-quality residential flats with full planning consent, brought forward for open market sale through a phased delivery approach.
The project will use Insulated Concrete Formwork (ICF) construction, chosen for its sustainability and thermal performance benefits. The site was acquired via share purchase, and the facility was structured to suit a sales-led exit, requiring careful consideration of funding and delivery risks.
The transaction was introduced by Alex Kotelawala of Pronto Management Consultants, a specialist advisory firm in structuring complex real estate debt facilities. Pronto guided the deal through the interplay of a share purchase acquisition and a subordinated mezzanine facility while ensuring the funding structure remained commercially viable and aligned with the client’s delivery strategy.
The HTB team on the deal included Rob Syrett, lending director, with support from Elysia Walters, relationship manager, and Scott Apps, head of distribution, alongside HTB’s credit and legal teams.
“This was a sophisticated transaction with multiple moving parts, from ICF construction and a share purchase structure to a sales-led exit,” said Rob Syrett, head of origination, development finance at HTB. “At HTB, we look at projects in their full context. That means not just bricks and mortar, but the business model and delivery strategy. Our role was to structure a facility that aligned with the client’s objectives while managing the complexity around multiple stakeholders. That’s where HTB adds real value: pragmatic structuring, commercial insight and relationship-led delivery.”
Alex Kotelawala, director of retail & commercial finance at Pronto Management Consultants, added: “This deal brought together some of the trickiest elements in development finance – from a share purchase acquisition and subordinated mezzanine facility to ICF construction and a sales-led exit. At Pronto, we take pride in making complex situations manageable. Our focus was on shaping a funding package that balanced risk and reward while keeping everyone moving in the same direction. HTB were fantastic partners in that process – pragmatic, collaborative and commercially sharp. Together we delivered a solution our client could have real confidence in, and we’re excited to build on this success with HTB in future projects.”
Legal support was provided by Muckle LLP. Claire Naughten, senior associate in the real estate finance team, led the transaction, with Georgia Sproat advising on security and intercreditor arrangements, and Ross Galbraith, partner, leading on construction elements.
“We were delighted to support HTB on a transaction that demonstrated real depth of thinking and collaboration,” said Claire Naughten, senior associate at Muckle LLP. “The share acquisition and ICF elements added complexity, but a focused, solutions-led approach across all parties ensured a smooth progression from instruction to close.”
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