"This facility builds on HTB’s existing relationship with the developer, having previously supported a land facility for the site in November 2024 and a separate £882,000 interim finance facility for four properties in Chippenham earlier this year."
- Scott Apps - Hampshire Trust Bank
Hampshire Trust Bank has announced that it has completed a £14m development finance facility to support the delivery of 95 purpose-built student accommodation units in Bristol.
The scheme, which benefits from full planning consent and will be held freehold, is due for practical completion in June 2026. This timing ensures the accommodation is available ahead of the September 2026 university intake. The funding will enable the construction of high-quality student accommodation in a sought-after city location, with a refinance onto term finance forming the intended exit.
The borrower, an experienced existing developer, selected HTB for its ability to move quickly and provide a facility that met the time-sensitive requirements of the PBSA cycle. With increasing demand from the higher education sector and a well-established need for modern student accommodation in regional cities like Bristol, the scheme will deliver valuable housing stock to the local market.
HTB’s deep understanding of the PBSA sector was central to the funding solution. While appetite for student schemes has widened, many lenders still lack the specialist insight required to support these types of developments.
“PBSA developments demand absolute precision around timing, and that’s where lenders can either add real value or become a blocker," explained HTB's lending director, Tim Mycock. "The cyclical nature of student intake means missed deadlines simply aren’t an option. With this deal, we were able to structure a facility that gave the developer confidence and allowed for the right build programme to hit key dates.
He added, "My own background in this sector helped us anticipate the pressure points and move quickly when it mattered. It’s a great example of how our sector experience translates into practical, reliable funding.”
Scott Apps, Head of Distribution at HTB, said, “This deal reflects exactly what HTB stands for in development finance. We’re here to support experienced, regionally active developers with tailored funding that moves at their pace and meets the demands of the local market. This isn’t a one-off transaction - it's part of a long-standing relationship that has seen us fund the land, provide interim finance, and now deliver a significant PBSA facility."
“In due course, we expect the scheme to transition onto a term facility with our Specialist Mortgages team, continuing that relationship through the next phase. That joined-up approach across the bank is what sets HTB apart and is something that our developers and broker partners really value.”,
Apps concluded, "This facility builds on HTB’s existing relationship with the developer, having previously supported a land facility for the site in November 2024 and a separate £882,000 interim finance facility for four properties in Chippenham earlier this year. The bank is also currently funding a further development in Bristol with the same developer, backing the construction of eight new homes."
