Summary:
- Secure Trust Bank Business Finance provided a £4.5m land bridge loan to a joint venture between Alara Investments and Elder, enabling the Greyfriars House co-living development in Reading to advance through Gateway 2 and demolition with an 18-month facility at 50% LTV.
- The site, located centrally in Reading near the station, holds full planning permission for a 266-bed co-living scheme across 12 floors, responding to local regeneration and rising demand for quality rental accommodation.
- This marks STB’s second land bridge loan and first for a co-living project, highlighting the bank’s relationship-driven approach and flexibility in supporting developers through transitional phases of property development.
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