Cubica Capital has secured £6.8 million from Secure Trust Bank Real Estate Finance to refinance a converted office building in Sidcup, south-east London.
The five-year facility covers Roxby House, a five-storey building originally designed by post-war architect Owen Luder. The property was converted into 34 one- and two-bedroom residential units, with refurbishment completing in June 2026.
Transaction details
The loan was structured at 70% loan-to-value and reached drawdown in just over three months. The units are being marketed to young professionals, with the building located near Sidcup station offering journey times to London Bridge of under 40 minutes.
This transaction represents the ninth active deal between Cubica Capital and Secure Trust Bank, with their combined portfolio approaching £100 million. The two parties have maintained a working relationship spanning five years, similar to other refinancing arrangements in the residential sector.
Alasdair Bowers, relationship manager at STB, led the transaction alongside Ariel Mozes, director at Cubica Capital. Mozes said the bank remained accessible throughout the process and ensured the transaction proceeded smoothly.
Office-to-residential trend
The Roxby House conversion adds to Cubica Capital’s residential portfolio at a time when property conversions continue to attract lender interest. Bowers noted early tenant demand for the units, though specific occupancy figures were not disclosed.
The refurbishment retained elements of the building’s original architectural character whilst accommodating modern residential specifications. The property now forms part of the growing stock of converted office space in outer London boroughs.
