Pallas Capital completes £970k development exit loan in Leicestershire

30 April 2026

Pallas Capital has announced the completion of a £970,000 development exit loan to support the refinance and marketing phase of four units within a new residential scheme in Kibworth, Leicestershire.

The 12-month bridging facility, which was structured at 75% LTV, provides the necessary funding to refinance an existing development facility and support the sales period for a selection of newly completed homes. The assets consist of two bungalows and two apartments, which form part of a high-quality 10-unit project delivered by an experienced developer with a strong reputation for residential schemes in the local area.

Senior Originator Mark Witherington and Underwriter Christopher Adams led the transaction for Pallas Capital, supported by Andrew German at Glovers, who acted for the lender.

The site’s specific security requirements and the developer’s portfolio objectives required a tailored approach to the loan structure. While traditional funding often requires a charge over an entire scheme, the Pallas team worked through the technicalities to ringfence specific units. This focused diligence, combined with the responsiveness of the legal teams, allowed the funding to be secured within just five weeks.

Christopher Adams, Underwriter at Pallas Capital, commented:

"This deal is a great example of what can be achieved when maintaining an open dialogue throughout the underwriting process. Despite the compressed timeline, we were able to address the more complex aspects of the security structure to meet the client’s requirements. We are happy to see this project reach completion and provide our borrower with the necessary breathing space to refinance and execute their sales strategy."

This completion marks the continuation of a long-standing relationship between the Pallas team and the borrower. Following the successful delivery of the Kibworth units, Pallas Capital is already exploring a pipeline of future sites with the developer, reinforcing a partnership built on navigating through complex security structures.