Tapton and CWU complete £2.2m bridging loan on former gasworks site

By Bridging Loan Directory 1st May 2025

Tapton Capital and CWU Capital have successfully completed a £2.2m first charge bridging loan in just 12 working days, providing a vital refinance and equity release facility secured against a former gasworks site in the South East of England.

The land, which is being prepared for future purpose built student accommodation (PBSA), sits close to two major universities, a prime location with growing demand for student housing.

This deal presented a number of complexities. The site’s previous use as gasworks raised concerns around historical contamination and underground infrastructure, and no planning consent was in place at the time of application, typically a challenge for many lenders.

The key to getting this over the line so quickly was the strength of the partnership between Tapton and CWU Capital.

Having collaborated on multiple transactions in recent years, both parties knew how to operate with efficiency.

A shared approach to communication, clear documentation, and a willingness to stay close to the detail enabled the transaction to complete smoothly within 12 working days, despite the site’s intricacies.

Rob Wilkinson, Founding Director at CWU Capital, commented:

“This was one of the first deals we completed under our new funding line, so it was important to get the detail right without losing momentum.

The way everyone worked together, from brokers to surveyors to lawyers, really made the difference. We trust Tapton to bring well-structured cases, and this was no exception.”

Although the final loan-to-value reached 67.5%, slightly above CWU Capital’s typical parameters, a holistic commercial view was taken.

The borrower’s experience, strong financial profile, and the asset’s strategic location helped support the decision.

Positive pre-application feedback from the local council added confidence around the planning potential and future exit options.

The borrower needed to refinance an existing acquisition facility and release capital already invested into the land.

Given the commercial pressures involved, timing was everything. In the client’s own words, this was “one of the fastest and smoothest completions” in their 50+ years of borrowing.

James Lennon, Managing Director at Tapton Capital, said:

“We’ve worked with CWU on several complex deals and they remain a top tier funding partner.

Their pragmatic approach and responsive communication allowed us to push this through quickly, even with a challenging asset.

It’s a brilliant example of what’s possible when everyone’s aligned and focused on getting the right outcome for the borrower.”