HTB completes £17.1m facility for Luton regeneration scheme
19 September 2025
Hampshire Trust Bank (HTB) has completed a £17.1 million facility to refinance land for the next phase of a landmark regeneration project in Luton. The scheme will deliver more than 500 new homes alongside commercial, retail and leisure space as part of a wider multi-phase masterplan.
The development has full implemented planning consent. Phase two provides for 592 residential units across three tower blocks and a 260-space car park. The developer is also seeking amendments to increase the height of two towers and convert the car park into a multi-storey facility, enhancing both density and amenity.
The facility, structured in partnership with real estate finance specialist SHC Capital, refinances the developer’s existing land loan and enables the site’s preparation for development ahead of construction, which is expected to commence in 2026.
With a borrower structure involving overseas investors, an evolving planning framework and a large-scale phased delivery plan, the transaction required detailed structuring and conviction from HTB’s Development Finance team.
The deal was led by Lending Director Tim Mycock, Senior Relationship Manager Lucas Cutts, and HTB’s Development Finance team.
Tim Mycock, Lending Director at HTB, said:
“This was a sophisticated transaction that required precision and collaboration. The £17.1 million facility provided the certainty and flexibility needed at a pivotal stage, positioning the site for its next phase of development. Supporting a project of this scale demands structuring expertise and a clear understanding of complex planning frameworks, which is exactly where HTB adds value. Complex schemes like this rely on close collaboration, and SHC Capital were instrumental in helping us deliver a solution that met the developer’s objectives.”
Tony Tadros, Director at SHC Capital, said:
“This exciting project is at a critical stage and the refinancing of the land loan was integral to the developer’s strategic goals. So it was a privilege to work with HTB’s highly experienced team, who showed themselves to be agile and able at every step of the way, on an intricate refinancing deal.
“With planning permission and time in place, we look forward to seeing how this scheme takes shape in 2026 – and to working again with Tim and his team at Hampshire Trust Bank.”
Neil Leitch, Managing Director of Development Finance at HTB, added:
“Schemes of this size don’t move forward without conviction. Complex borrower structures, multi-phase masterplans and ambitious planning amendments demand experience and pragmatism. That is where specialist lenders add real value. At HTB we bring both the certainty of funding and the structuring expertise needed to progress major projects. We are delighted to be supporting a first-class developer and look forward to building a long-term relationship as the wider regeneration comes to life.”
