Roma Finance has provided £3.35 million to fund phase one of a 23-unit industrial development in Colchester, helping developer Baahn Ltd push ahead after previous financing setbacks.
The site, purchased in 2021 for £320,000, now has full planning permission and a current value of £980,000. Roma’s funding supports the delivery of the first 14 units, which have a projected gross development value of £5.34 million.
A second phase, due in 2027, will add a further nine units to complete the scheme.
Sustainability lies at the heart of the project, with each unit designed to achieve an EPC Band A rating. The specification includes solar panels, air source heat pumps, EV charging points, double-glazed aluminium windows, LED lighting and heat recovery ventilation systems.
The site will also feature a cycle shelter and a new bus stop as part of its Section 106 obligations.
The five-block development will comprise high-spec, two-storey Class E office units ranging from 955 to 1,992 sq ft, all available for individual sale. Demand has been strong, with 53 businesses already registering interest.
Claudine Reynolds, relationship manager at Roma Finance, said: “This project’s scale, design and sustainable features make it a standout development for Colchester and one we are proud to be involved in.
“Collaborating with the borrower and Daniel Dawson at Cator Wells enabled us to deliver a seamless result when it was most needed.”
Simon Lucking of Baahn Ltd added: “Having tried to fund the construction of our office development with numerous lenders who all eventually let us down, it was refreshing to finally meet a lender that had the foresight and integrity to match ours.
“At every turn the Roma team were professional, realistic and honest, and the speed with which they achieved completing the facility was amazing.
“We are excited to see where the continued relationship takes us and having Roma at the forefront of our professional team can only make us stronger. I cannot recommend them highly enough.”
Daniel Dawson, broker at Cator Wells, added: “Following the launch of Roma’s new commercial product, it was great to work with a lender that approached a commercial project with such a practical and forward-thinking mindset.
“Despite the challenges of a site yet to break ground and with no pre-sales or pre-lets in place, the Roma team recognised the potential and strong demand for this type of commercial development and made it happen.
“It was a genuine pleasure to work with Claudine and Shane — their proactive approach, regular communication and commitment were a real breath of fresh air in getting the loan completed and the client on site.”
Construction of phase one began in the third quarter of 2025, with completion of the full development expected by the end of 2026.
