Manchester Banking Firm Launches 100M Pound Development Fund

A Manchester based banking firm has launched a £100 million fund to boost commercial and residential development in towns and cities across the UK.

AIM-listed Secure Trust Bank, which advanced over £135 million to its customers for residential and commercial property development projects across the UK last year, is adding the £100 million property conversion fund to its real estate finance arm.

Paul Marston, managing director at Secure Trust Bank Business and Commercial, said:

"With the government pledging to address the housing shortage through a number of new brownfield initiatives, the next few years will be an extremely exciting period for real estate development.

"The market is continuing to see an increased appetite from property developers looking to revitalise unloved suburban areas with innovative new commercial to residential schemes.

"This new fund will diversify our offering and help to boost the volume of affordable and high-spec residential developments in cities and out-of-town locations across the UK."

So far this year, Secure Trust Bank has funded various commercial to residential property development projects, including a £6.4 million internal reconfiguration scheme in Slough to turn unused office space into 54 apartments.

If you're looking to make a commercial property purchase, contact our commercial solicitors on 0161 928 5558 for advice.

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