United Trust Bank and Iron Bridge Finance fund £10m South London development

By Bridging Loan Directory 9th January 2025

United Trust Bank (UTB) Property Development has teamed up with Iron Bridge Finance to fund a £10m development in South London.

UTB is providing c.£6m of senior debt to fund the development with Iron Bridge providing a further c.£1m of mezzanine finance.

The scheme, in South London, will see the redevelopment of a site formerly occupied by a substantial 1930s house.

Once removed, the developers will create eleven new apartments set across two blocks, each with either a garden or terraced balcony.

In addition, there will be two new semi-detached houses and one bungalow, designed for wheelchair accessibility and with its own adjoining parking space. The 14 new homes have a combined GDV of c.£10m.

Luke Benton-Drury, Director – Property Development, United Trust Bank, commented:

“I am delighted that UTB has the opportunity to once again collaborate with Edward Alexson and Iron Bridge Finance in supporting this venture.

I hope this is the first of many schemes we support for this new customer and is the start of a successful and fruitful long-term relationship for us all.”

Edward Alexson, Chief Operating Officer, Iron Bridge Finance, commented:

“This scheme is another example of Iron Bridge collaborating with our trusted senior lending partner, UTB.

It also reinforces our position as the leading mezzanine lender in the market, offering developers the reliable, flexible financing they need to maximize their project potential and achieve their goals.