It really is beginning to look a lot like Christmas again. And as we start to look forward to the festivities and the new year, it's the perfect time to look back at the successes of the past 12 months.
From helping fund the transformation of listed buildings and striking affordable housing loan deals, to arranging significant property investment deals, here's our round-up of some of our favourite stories from this year.
1. Bringing vibrant apartments to Milton Keynes
One of the first deals we reported on this year was originated by our Relationship Director, Mike Feasey, alongside Head of Origination, Matthew-Blaine Young. Working with BBS Capital, the pair secured a £35m residential property investment loan to refinance a former office building in the heart of Milton Keynes.
The new 200-unit residential development is located directly above Milton Keynes Central station and is now home to vibrant apartments which took the place of disused office space. The development is particularly ideal for commuters who need to reach the capital, with commuting time to London no longer than an hour.
2. Breathing new life into Harlow Flats
Let's move to another apartment project, but this time in West Essex, where Relationship Director, David Burke, secured a five-year residential property investment loan worth £6.645m. In this deal, our existing working relationship with both the borrower and broker was key to finalising an agreement in just three months.
The two contemporary apartment blocks comprising of 47 units in the Mayflower and Bluebell House blocks of Harlow Flats opened their doors to residents in March this year. With Harlow ranking among the top five commuter towns for connections to London, the flats are located under one mile away from Harlow Town train station - another funding success for commuters.
3. Rejuvenating popular Ipswich flats as part of ongoing partnership
A block of flats, popular among students and healthcare workers in Ipswich is our next pick on this highlights list. Ipswich Court was acquired by Castleforge, a specialist real estate investment business, thanks to a third loan worth £3.9m. Leading on this deal was Barry Gorton, our Head of Portfolio Management.
The apartments were acquired in December 2023 after Castleforge drew down on a two-part investment and capital expenditure loan on a three-year term through our Real Estate Finance offering.
This latest deal represents our growing partnership with Castleforge, taking our total lending with them to £33.2m following combined deals in 2022 and 2023 worth £29.3m. We are looking forward to what the future holds for this exciting partnership!
4. Transforming Cheltenham's Buckingham Court
A previously tired and dated block of Georgian-style apartments in Cheltenham was revitalised thanks to a £2.3m investment property loan, led by Relationship Director, David Burke, and this year, we got to see the difference the funding made.
The apartments are now significantly more energy-efficient, following a complete overhaul of the building's interior and exterior. It was great to help breathe new life into this historic building full of charm and see the apartments transformed into modern spaces ready to welcome those looking to live and rent in Cheltenham.
5. Refinancing a Hertfordshire manor house
This year, we also refinanced Clare Hall Manor with a £6.8m residential property investment loan, headed up by Relationship Director, Raminder Dhillon.
A Grade II-listed property built in 1725 but recently redeveloped by Manor Co Living Limited, Clare Hall Manor is now joined by a new build comprising 40 luxury studios and a plethora of communal areas. Located in South Mimms village, Hertfordshire, this was a truly tailored loan which saw the team visit the site and finalise the deal in just 16 working days from sanction!
6. Finalising contemporary Nottingham apartments
Let's head to Nottingham now, where a redevelopment project funded by our development to investment loan helped bring contemporary apartments to the city.
Led by Matthew-Blaine Young, Head of Origination, and Barry Gorton, Senior Relationship Director, our bespoke finance facility in Lace Market Quarter provided the necessary property finance required to fund the apartments' development, which was recently valued at £25m.
This was another example of our strong working relationship with developers, Edmond de Rothschild Real Estate Investment Management, and marks the fifth of eight property loans provided by Secure Trust Bank to the company since 2019.
7. Kickstarting luxury Surrey property development
And the partnership successes just kept coming this year! Following a £3.4m residential property investment loan, we were able to inject the funding needed to kickstart construction on a new luxury property development in Surrey.
The Waldrons is a scheme of nine semi-detached new-build properties that are being developed in the village of Felbridge, East Grinstead. Constructed by premium property developer, Bruckland Developments, this development is the result of the third loan provided by us since 2020.
The 18-month term loan was facilitated by Relationship Director, Richard Lynn, and the homes are expected to reach practical completion in March 2025. Watch this space for more updates on the development next year.
8. Providing a bespoke loan for affordable housing
We provided V&F Homes with a £3.8m residential property investment loan to further fund growth of its affordable housing portfolio in East Anglia. Comprising of 51 new-build homes spanning across Norfolk and Suffolk, the portfolio features a mixture of shared ownership and affordable housing schemes. The project is testament to our bespoke lending service and experience in structuring tailored property loans.
Thanks to an existing relationship between Head of Origination, Matthew-Blaine Young, and Centrus Advisors, the five-year loan received drawdown quickly and shone a spotlight on our expertise in affordable housing and shared ownership.
9. Regenerating Edinburgh's Stead's Place
We're heading back to another of this year's projects in partnership with Edmond de Rothschild REIM now, where a £13.7m loan was used to regenerate Stead's Place into a build-to-rent development in Edinburgh.
Located near the foot of Leith Walk, Stead's Place is a collection of 110 one-, two-, and three-bed apartments, which are scheduled to reach practical completion by the first quarter of 2025. The five-year property development loan marks the fourth collaboration between STB and Edmond de Rothschild REIM and was led by Matthew-Blaine Young, Head of Origination at Secure Trust Bank.
We are proud to be a part of Edmond de Rothschild REIM's growing private rented sector portfolio and are looking forward to working on future projects together, in 2025 and beyond!
10. Boosting premium Polesworth detached homes
Following a £2.4m residential property investment loan, a set of nine premium detached homes were refinanced earlier this year in Polesworth, a village three miles east of Tamworth.
Owned by Shaw Estate Management, Waterside Grange is home to individually designed four-bed properties which benefit from solar panels and electric vehicle charging points. Led by Relationship Director, Vincent Pang, the deal was completed in just over two months thanks to a strong working relationship with Andy Shaw, Director of Shaw Estate Management.
It also meant another site visit, always a pleasure!
11. Smashing our 'REF Ramble' fundraising target!
Our Reading-based Real Estate Finance division celebrated the success of its annual fundraising walk this year, raising over £15,000 for Cancer Research UK!
The 'REF Ramble' has become an annual tradition and with the help of several professional partners, the team was able to smash the £10,000 target originally set. Our pound-for-pound matched funding scheme allows participating staff to double what they raise individually, up to a maximum of £400 each.
Donations flooded in, including £1,000 from New York and Bahamas-based real estate specialist Gold Wynn Group and professional services firm, Gunnercooke, which contributed more than £1,000 to the cause.
Huge congratulations to everyone who took part this year and a big thank you to all our amazing partners and contributors. Here's to the 2025 REF Ramble!
12. Celebrating 10 years of success
Finally, this year saw Secure Trust Bank Real Estate Finance mark 10 years of success! The STB REF team looked back over the major wins of the past decade since the first loan was written in March 2014. Since then, the team has achieved several remarkable milestones, with many of the deals made having a significant impact on local communities and the regeneration of brownfield sites.
We want to thank our fantastic team for their hard work and are now looking forward to what the next ten years will bring!
And that's it! Our 12 stand-out real estate finance stories from the past 12 months. We're looking forward to what 2025 will bring, but for now, if you want to speak to our finance team and have a deal that could top this list next year, contact us.