Hampshire Trust Bank (HTB) has funded a £3.93 million development finance loan to finance the creation of five pre-let retail units in Faverdale, Darlington.

The site has anchor tenants such as Costa Coffee, Greggs, Indigo Sun, Harrison Vets, and Fastned (EV charging). A portion of the site was also sold to McDonald’s, which is constructing its own unit at the entrance.

The borrower, Almscliffe Dhesi, is an experienced Yorkshire and North East-based development firm, while the deal was introduced to HTB by John Carling, owner of broker Solutions Northern.

This transaction marks the first case completed under HTB’s updated commercial development criteria, which increased the maximum loan-to-GDV ratio to 65%. These changes were introduced to make a wider range of commercial projects eligible for funding, reflecting HTB’s focus on providing tailored solutions to developers.

Neil Leitch (pictured), managing director, development finance at HTB, said: “Pre-let commercial cases like this are a little unusual, but that’s where HTB excels. We pride ourselves on our flexibility, working closely with borrowers and brokers to deliver tailored funding solutions that meet the unique needs of their projects.

“In this case, the developer’s strong track record and the high-quality tenant line-up stood out, making it clear this was a project worth backing. The increase to our maximum loan-to-GDV reflects our commitment to adapting our criteria to open up opportunities for developers, whether in residential or commercial spaces.”

Neil Creeney, director at Almscliffe Dhesi, added: “This was an unusual case, but HTB’s hands-on approach and flexibility made a huge difference. Their willingness to work closely with us throughout the process has been invaluable. It’s rare to find a lender so willing to understand and accommodate the unique needs of developers.”