Hampshire Trust Bank (HTB) has completed an £18.2m refinancing facility for a Grade II listed office scheme on Bedford Row in central London.

The deal refinances a newly refurbished set of three interlinked Georgian townhouses, delivering more than 27,000 sq ft of Grade A office space.

The property combines heritage architecture with modern sustainable design, achieving a BREEAM Excellent rating, EPC A, and Silver ratings from both Wiredscore and Smartscore.

Early tenant interest has already come from legal, financial and creative firms.

The facility refinances the original development loan and provides the borrower with time to stabilise lettings ahead of a future sale or refinance.

It follows an earlier £13.3m facility that HTB arranged for the same client this year, refinancing a retirement living scheme in the South of England.

The transaction was introduced by Adam Brews of Vandermolen Real Estate and led by Tim Mycock, lending director at HTB, alongside relationship manager Beth Rungay and the bank’s development finance team.

Mycock (pictured) said the deal demonstrated the value of detailed structuring. “This was a facility with real structural complexity, requiring us to navigate a layered ownership group and deliver against tight post-completion timings,” he said.

“Knowing exactly what the borrower is trying to achieve and shaping terms that fit both the asset and their wider strategy is where HTB adds real value.”

Neil Leitch, managing director of development finance at HTB, said the transaction illustrated a wider shift in the capital’s office market. “Well-located, high-quality assets with strong sustainability credentials still command demand,” he said.

“The challenge for investors is the period immediately after completion, when certainty of funding is critical while lettings are secured. That is a space where specialist lenders like HTB can step in with pragmatic, structured facilities that mainstream lenders often struggle to provide.”

Adam Brews, director at Vandermolen Real Estate, added: “Completing a second transaction with this borrower and HTB underlines the importance of strong relationships in our industry.

“Vandermolen’s capital advisory team is proud to be at the centre of those relationships, bringing together market knowledge and disciplined execution to deliver clarity, certainty and value for all parties.”

HTB said the deal underscored the growing role of specialist banks in bridging the gap between redevelopment and long-term income stabilisation in the London office market.