Recognise Bank completes £2.66m bridging loan for Manchester redevelopment site
15 June 2026
Recognise Bank has completed a £2.665m bridging loan to support a regional property developer with a site in Burnage, Manchester.
The 12-month facility was introduced by specialist debt and equity advisory Roscap and completed at 65% LTV. The loan is secured against a former social and recreational site in Burnage, which the borrower purchased in 2023.
The site includes commercial buildings and three apartments. Since acquiring the asset, the borrower has secured planning permission for 66 homes.
The facility was agreed on a serviced basis and will be used to repay the existing charge, with surplus funds released to support further property investment and development activity.
Recognise Bank took a practical view of the transaction, considering both the current asset and the borrower’s longer-term plans for the site. The intended exit is through development finance. The Roscap team played an instrumental role in supporting Recognise Bank with finalising the facility structure.
Paul Bagan, Lending Manager at Recognise Bank, said:
“This was a strong example of the type of deal where it is important to understand the borrower’s wider plan, rather than looking at the asset in isolation.
“The site has already moved forward significantly since the borrower acquired it, with planning now secured for 66 homes. We were able to take a considered view of the existing security, the borrower’s experience and the proposed exit, and structure a facility that gives them the flexibility to move ahead with the next stage of their plans.
“Roscap played an important role in presenting the case clearly and working closely with us throughout. That collaboration helped maintain momentum and gave all parties clarity on what was needed to complete.”
Suleman Rafiq, co-CEO at Roscap, said:
“This was a multi-faceted transaction involving a site with a clear development path and a borrower with a strong local track record.
“Recognise Bank engaged with the detail from the outset and took the time to understand both the asset and the borrower’s broader strategy. Their pragmatic approach helped deliver the certainty needed to complete the refinance and release capital for the next phase of activity.”
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