United Trust Bank has provided a £16.2m investment facility to the Patel family, refinancing a £26.9m mixed-use property in South London. The deal is set at a 61% loan-to-value on a five-year fixed-rate term.
The property, which was once a large photographic processing facility in the UK, has been redeveloped to include 24 residential apartments and approximately 18,500 sq ft of office space. This refinancing replaces expiring debt and aims to provide rate certainty, aligning with the family's long-term ownership strategy.
Jayesh Patel, representing the family, stated that finding the right funding partner was essential for the property, which has been part of their portfolio for over 35 years. The family sought a solution offering certainty for the next five years without unnecessary complications.
This transaction reflects a wider trend among family-held property portfolios that are seeking long-term financing structures. This approach to property portfolio management is becoming more common as investors prioritise stability.