Farlane Capital has secured a £26.4m loan from Cynergy Bank to support the refinancing and stabilisation of the 213-unit Sheriff’s Gate build-to-rent (BTR) residential development in Worcester.
The development, which was acquired by Farlane Capital in April 2025, is situated in Worcester’s Shrub Hill regeneration zone.
The financing arrangement includes a 12-month stabilisation period and the loan structure features a margin stepdown upon achieving key performance milestones, aligning with the project’s operational goals.
Bryan Hawkins (pictured), relationship director at Cynergy Bank, said: “We are proud to have partnered with Farlane Capital to support the delivery of this scheme in Worcester. This transaction adds to Cynergy Bank’s growing portfolio in the living sector and reinforces our commitment to supporting sustainable housing solutions in regional growth areas across the UK.”
Grant Livingston, founder and managing partner at Farlane Capital, added: “We are grateful for Cynergy Bank’s partnership on the £26.4m refinancing of Sheriff’s Gate. Their flexible financing, including a 12-month stabilisation period, was crucial for this 213-unit build-to-rent development, which serves as the first of its kind in Worcester. This collaboration reinforces our ongoing efforts to deliver quality, professionally managed rental homes under our Nara Living brand, contributing to the solution for the UK’s structural housing shortage.”
