UTB Funds Creation of 92 Supported Living Units Across Two Schemes in South-West London

02 September 2026

United Trust Bank (UTB) Property Development has provided two development facilities totaling £15.6 million to support the acquisition, refinancing and redevelopment of two redundant properties into high-quality supported living accommodation for vulnerable adults in South-West London.

The funding has been provided to Public Housing Ltd, an existing UTB customer, and will enable the delivery of 92 en-suite supported living units across the two schemes, with a combined Gross Development Value (GDV) of £26.5 million.

Deal highlights

£15.6 million of development funding across two supported living schemes.
£26.5 million combined GDV.
92 new en-suite supported living units created helping address growing demand for specialist accommodation.

The first facility comprises a £6.5 million, 15-month loan to refinancing an existing bridging loan while funding the conversion of a former care home into 28 en-suite supported living units. The scheme will provide counselling rooms, communal breakout areas and shared facilities, creating high-quality accommodation within the existing building footprint.

The second facility is a £9.1 million, 24-month loan supporting the acquisition and conversion of a former convent into 64 en-suite supported living units. With no change of planning consent required, the project benefits from reduced planning risk while creating modern accommodation including shared kitchens, communal facilities, and dedicated space for 24-hour support staff.

Both developments demonstrate the growing opportunity to repurpose underutilised buildings to meet increasing demand for specialist supported living accommodation, while reducing planning and delivery risk compared with ground-up development.

Daniel Carlisle, Senior Director – Property Development at United Trust Bank, said:

"This was an excellent opportunity to support an experienced developer delivering high-quality supported living accommodation in a sector where demand continues to outstrip supply. By repurposing existing buildings, the borrower is bringing forward much-needed specialist housing while reducing planning risk and making efficient use of existing assets.

"The transaction also demonstrates the flexibility of UTB's development finance proposition. We worked closely with Public Housing Ltd to structure facilities that supported both the acquisition and redevelopment of the sites, while recognising the strength of the exit strategy and the long-term demand for this type of accommodation."

Chris Wilson, Director of Public Housing Ltd, commented:

"Our objective is to create high-quality supported living environments that provide vulnerable adults with safe, modern accommodation designed around their long-term needs. These projects demonstrate how redundant buildings can be given a new purpose while delivering lasting social value for local communities.

"UTB understood our vision from the outset and took a pragmatic approach to structuring funding across two different schemes. Their ability to understand both the development challenges and the commercial opportunity gave us the confidence to move forward, and we look forward to delivering schemes that will make a meaningful contribution to supported housing provision in London."