Hampshire Trust Bank supports £7.2m Wood Green airspace development
11 March 2026
Hampshire Trust Bank (HTB) has completed a £7.2m residential development finance facility to support the upward extension of an existing mixed-use building in Wood Green, London.
The 20-month facility will enable the delivery of nine additional residential units above the existing three-storey structure, increasing the total number of homes from 13 to 22 while retaining the ground-floor commercial unit, which is let to an established national retailer on a long-term lease. Located within walking distance of Turnpike Lane Underground Station, the scheme combines established income with new residential delivery in a well-connected Zone 3 setting.
Full planning permission for the three-storey extension was granted in October 2025, with structural reinforcement works completed and signed off prior to funding. The development will incorporate green roof space, heat pumps and solar panels alongside improvements to the existing building fabric.
The funding has been provided to an experienced London developer with a strong track record of delivering complex urban schemes. The transaction was introduced by Lucy Waters, Managing Director of Aria Finance.
The deal required a revised funding approach at a critical stage to enable the borrower to refinance their existing lender while progressing development above occupied space. HTB restructured the facility across two products to deliver the required net day-one refinance without additional security. Rental income from the income-producing element supports servicing, with the development ringfenced under a fully funded structure to protect delivery.
On completion, the borrower intends to retain the asset and refinance onto longer-term investment funding via HTB’s Specialist Mortgages division.
The transaction marks a new relationship for HTB’s Development Finance team with an existing HTB customer and strengthens the wider relationship across the Bank.
The deal was led by Alexia Evans, Lending Director at HTB, with support from Relationship Managers Olivia Emmett and Elysia Walters, and Business Development Manager Scott Apps. Valuation was provided by Colliers, monitoring was undertaken by Project & Building Consultancy, and legal advice was provided by Glovers.
Alexia Evans, Lending Director at HTB, said:
“This was a scheme where structure and timing were equally critical. We needed to deliver a full refinance while protecting the development above occupied space and maintaining momentum on site.
“By restructuring the funding across two products, we were able to meet the borrower’s day-one refinance requirement without introducing additional security or compromising risk discipline. That clarity of structure is essential when funding complex urban schemes.”
Lucy Waters, Managing Director of Aria Finance, added:
“This transaction required a lender able to engage fully with the commercial structure and timing pressures involved. HTB worked decisively and collaboratively throughout, ensuring the refinance completed smoothly while the development progressed as planned.”
Neil Leitch, Managing Director of Development Finance at HTB, said:
“In established London locations, new housing is increasingly delivered through intensification rather than expansion. Airspace schemes test capital discipline as much as construction capability.
“They demand funding structures that recognise live income and constrained sites while maintaining clear risk parameters. Providing that certainty is where specialist development finance continues to add real value.”
