United Trust Bank has provided a £16.2m investment facility to refinance a £26.9m mixed-use property in South London, held by the Patel family for more than 35 years. The deal was structured at 61% loan-to-value on a five-year fixed-rate term.
The property, originally one of the largest photographic processing facilities in the UK, was redeveloped to comprise 24 residential apartments and approximately 18,500 sq ft of office space. The refinance replaces expiring debt and provides rate certainty aligned with the family’s long-term ownership strategy.
Long-term asset retention
The transaction was introduced to Andy Thomson in United Trust Bank’s real estate finance division by Gordon Clements of Morgan Allen Property Surveyors. The five-year term and fixed pricing were central requirements for the Patel family, who intend to retain the asset for future generations.
“This property has been part of our family’s portfolio for more than 35 years and remains an important long-term asset for us, so finding the right funding partner was essential,” said Jayesh Patel, representing the family. “We wanted a solution which gave us certainty for the next five years without unnecessary complications.”
The deal reflects a broader trend among family-held property portfolios seeking long-term financing structures. Similar approaches to property portfolio management have become more common as investors prioritise stability over short-term gains.
Market context
Gordon Clements of Morgan Allen Property Surveyors noted that the clients required “a competitive five-year facility from a lender that understood both the quality of the asset and their long-term plans for it.”
Andy Thomson of United Trust Bank’s real estate finance division described the transaction as “substantial” but noted the client’s requirement was “straightforward”, involving “a high-quality, well-established mixed-use asset which had been in the family for more than three decades.”
The refinancing comes as property owners increasingly seek fixed-rate arrangements to hedge against market volatility, whilst buyer behaviour in the UK property market shows shifting priorities around long-term investment strategies.
