Recognise Bank completes £2m bridging loan on derelict commercial site to help fund new development projects

23 October 2025

Recognise Bank has completed a £2m bridging loan on a derelict commercial site in Sheffield subject to planning for eight luxury houses to enable the borrower to fund new development projects.

The site was a mix of derelict warehouses and offices, located on a greenbelt and brownfield location. Asbestos was present due to the ages of the buildings, plus there was the risk of subsidence resulting from the historic extraction of minerals, adding to the complex nature of the property.

Funding was agreed in two stages; pre and post planning approval, to be spent on demolition and preparing the site for development. The final loan amount was £2,043,000 at 60% loan-to-value (LTV) on a 12-month term.

This deal was introduced by Ryan Dixon of GSB Capital Limited, a new broker to Recognise Bank.

Recognise Bank was founded in 2017 to provide lending and savings solutions designed around the needs of small and medium-sized businesses. Recognise Bank received its full banking licence in 2021 and has since grown its customer base across the UK.

Heather Mitchell, Lending Manager at Recognise Bank, said:

“The complexity of this case would have defeated many lenders. However, Ryan at GSB Capital provided a very well packaged case and understood what information we needed up-front to help us make a swift decision.

”The experience of the borrower was key in agreeing this deal too, as with other projects in the pipeline, it was clear what their plans were and how this funding would enable them to fund these future projects.”

Ryan Dixon, Managing Partner at GSB Capital Limited, added:

“Our client needed to find a lender who would not only make a quick decision, but one that could grasp and fully understand the risks surrounding the wait for planning. This was whilst also recognising the positives and upsides of the deal, which ultimately mitigated these risks.

“The team at Recognise Bank did all this and enabled the funding to quickly happen with little fuss. As a first-time broker to the bank, their efficiency and knowledge gives me immense confidence when I undoubtedly introduce my next deal to them.”

To learn more about Recognise Bank’s business bridging loans, visit:
https://www.recognisebank.co.uk/business-bridging-loan/