Pallas Capital funds restoration of Ringwood’s iconic Corn Exchange with £3.5m facility

19 May 2026

Pallas Capital has completed a £3,541,000 development finance facility to support Halo Developments in the restoration and conversion of The Corn Exchange in Ringwood. The landmark project will deliver 12 residential units alongside ground-floor and basement commercial space, revitalising a site that has stood vacant for over two decades.

The 18-month facility, structured at 70% LTV/GDV, facilitates the refinance of the historic site and powers the commencement of construction. Formerly home to the Regal Cinema and Route 42 nightclub, the building is a cornerstone of the town’s Market Place. Its redevelopment is a central component of local regeneration efforts, timed to align with Ringwood’s upcoming 800th market charter celebrations.

Senior Originator Mark Witherington and Underwriter Nicoleta-Smaranda Iorgu managed the transaction for Pallas Capital. The deal was introduced by Richard Norton at R&E Finance, who worked closely with the Pallas team to navigate the specific requirements of the developer.

The complexity of the site, which has been unused since 2002, required a highly tailored underwriting approach, specifically regarding the consolidation of multiple titles into a single entity. To maintain momentum, the Pallas team coordinated regular multi-party calls with the firm and R&E Finance to align legal and technical action plans. This collaborative effort ensured the project cleared its final hurdles, allowing works to officially commence with the support of the local community and the Town Mayor.

Nicoleta-Smaranda Iorgu, Underwriter at Pallas Capital, commented:

"The Corn Exchange is such an iconic piece of Ringwood’s history, so it was rewarding to help clear the technical hurdles to get the build started. Consolidating the titles was a real puzzle, but staying in close contact with the team at Halo Developments and the broker meant we could move through the complexities quickly. We are proud to play a part in bringing a landmark like the old Regal Cinema back to life for the town."

Eddie Hill, Managing Director at Halo Developments, commented:

"It was great to find a funding partner as enthusiastic and responsive as the team at Pallas. Their process was efficient and transparent from the start, providing the kind of clarity you need when managing a sensitive restoration like The Corn Exchange. We are delighted to have them in our corner as we move forward with the build and bring this landmark back to life for the community."