Secure Trust Bank Real Estate Finance has completed a £5 million refinancing facility on Lakeshore, a 66-apartment residential scheme in South Bristol housed within the Grade II listed former Imperial Tobacco building.
The loan has been structured at 60% loan-to-value and covers a collection of leasehold apartments within the converted property. The facility runs for five years and marks the first transaction between the lender and developer Vandercliff SL, with Edmond de Rothschild Real Estate Investment Management introducing the deal.
Property details and location
Located three miles from Bristol city centre and two miles from Temple Meads station, the Lakeshore development sits above a manmade lake. The apartments feature high ceilings and balconies. Since its conversion in 2012, the scheme has received a RIBA Southwest Region Award and won the Conversion, Restoration and Refurbishment category at the Sunday Times British Home Awards.
The transaction follows a pattern of refinancing activity in the UK property sector, with similar deals completed on hotel portfolios and commercial property assets in recent months.
Regional investment context
The deal reflects ongoing investment activity in Bristol, where capital is being directed toward infrastructure, housing development, and employment projects. Multiple brownfield regeneration schemes are currently active across the city.
James Reeves, relationship manager at Secure Trust Bank Real Estate Finance, said: “In recent years, the wider South Bristol area has been home to a number of serious regeneration initiatives aimed at improving infrastructure and employment prospects.”
James Whidborne, head of residential fund management UK at Edmond de Rothschild REIM, commented on the established working relationship between the parties, noting the speed of the transaction process.
Juan de la Peña López, director at Vandercliff SL, described the experience as positive, stating the company is “looking forward to continuing our investment journey over the next five years.”
The refinancing provides the developer with medium-term capital for the leasehold apartment portfolio within the converted heritage building.
