The refinance was completed under a fixed deadline to avoid penalty charges on an expiring short-term facility.

The bank agreed the facility at 70% LTV, equating to 77% of the purchase price for the vacant commercial property.

The Croydon asset covers 4.6 acres and around 186,500 sq. ft of open storage space.

The 40-apartment development across three blocks received a dual-facility solution combining a five-year investment loan with a three-month developer exit bridge.

Cortland at Colliers Yard is a 50-storey BTR development with 559 apartments

219 student apartments will be delivered through the south London conversion.

The deal follows a £556,000 residential bridging loan announced by the bank earlier in January for a London investment property.

Peppermill Court will include 239 beds, including 12 adaptable and accessible en-suites.

The loans were issued at a fixed rate of 1% per month over 12 months at 65% LTV, with repayment as the exit strategy.

The property was held via a British Virgin Islands entity, adding cross-border complexity to the transaction.