Hampshire Trust Bank (HTB) has provided an £11.9 million development finance facility to support the transformation of the Synergy Building in Sheffield into 108 private-sale apartments.
The project aims to meet the growing demand for high-quality city centre housing while contributing to Sheffield’s ongoing regeneration efforts.
The transaction, introduced by Mike Collins of Societas Capital, needed a flexible facility and fast funding. HTB had experience in financing large-scale regional city centre conversions and ensured that the financial structure supported both the project’s timeline and long-term objectives.
The facility was structured at 65% Loan to Gross Development Value (LTGDV), with CapitalStackers providing mezzanine funding. Eddisons acted as valuer, Watts as monitoring surveyor, and Glovers as legal counsel.
Russell Higgins, lending manager at HTB, said: “This transaction highlights the strength of the market for well-located city centre developments and the role specialist lenders play in supporting ambitious schemes. The project is already progressing at pace, with strip-out works well underway and strong pre-sales reflecting market demand.
“Structuring the right financial solution within a tight timeframe was key, and it’s great to see this development taking shape. We look forward to supporting similar projects that contribute to the regeneration of regional city centres.”
Mike Collins, managing director at Societas Capital, commented: “This deal required a lender that could act decisively and structure a facility that worked for all parties involved. HTB’s ability to move quickly, work collaboratively, and provide tailored solutions made a real difference.
“It’s great to work with a lender that understands developers’ needs and can deliver funding that fits the realities of the market.”
Neil Leitch, managing director of development finance at HTB, added: “City centre regeneration is something we’re seeing a lot more of, especially in regional hubs where demand for high-quality housing is only growing.
“These projects don’t just need funding – they need the right kind of funding, structured in a way that works for the developer and keeps the project moving. That’s where specialist lenders like HTB come in. We take a hands-on approach, working closely with brokers and developers to structure the right deal.
“This kind of project is exactly what we’re here for – helping developers bring great schemes to life, even when timelines are tight, or complexities arise.”
