The 65% LTGDV facility enables the delivery of 5 high-end units a stone's throw from one of the best beaches in the UK.

The loan was completed in 21 days from credit approval

Commercial auctions raised £32.8m from the sale of 54 lots, while residential auctions raised £25m from the sale of 117 lots.

The complex facility was structured into three transactions to complement the varying stages of the site.

The new development aims to bring much-needed homes to Sheffield while supporting the city’s wider regeneration.

Allsop’s March residential auction catalogue features 236 lots across the UK.

HREF has started 2025 with a number of significant bridging transactions and anticipates closing a further three deals totalling over £30m in the coming weeks.

The project is expected to take between 6 and 9 months to complete, with the 18-month loan term allowing ample time for this and the subsequent sale.

The loan enabled the borrower to refinance existing debt, consolidate financial commitments, and secure the necessary flexibility to elevate sales without undue pressure.

The deal marked the third time that STB Real Estate Finance and Merchant Land have worked together.