United Trust Bank’s (UTB) structured property finance team has completed a £35m structured residential-led stabilisation facility for a near-complete office to residential conversion close to Heathrow Airport.
The £56m scheme, which comprises 169 rental apartments and ground floor commercial space, has been undertaken by international real estate development and investment company Gold Wynn.
The purpose of the loan was to refinance Gold Wynn’s existing facility to reduce ongoing finance costs and release equity to be employed in another pipeline development in London.
Mark Shooter, director of Gold Wynn Heathrow, said: “We were impressed with the way Martin and the UTB team approached and executed this transaction. From the outset, they demonstrated a clear understanding of the scheme, our wider investment strategy, and the importance of delivering a facility that reduced our finance costs while positioning the asset for long-term hold. The process was efficient, collaborative and solutions-driven, and we look forward to building on this relationship in the future.”
Martin Cameron, business development director – structured property finance at United Trust Bank, added: “We were delighted to assist Gold Wynn with this facility, and it was a pleasure working with Mark and the highly experienced and knowledgeable Gold Wynn team to complete this substantial loan. UTB has the appetite and ability to deliver competitive and bespoke funding solutions from £2.5m to £35m catering for a wide variety of residential, commercial and mixed-use scenarios. We enjoy working with experienced real estate investors and providing the funding they need to achieve their objectives, no matter how complex or challenging.”
