The land, which is being prepared for future PBSA, sits close to two major universities, a location with growing demand for student housing.

Concerns were raised due to the lack of planning consent at the time of application and the risks of historical contamination due to the site’s previous use as a gasworks.

The LTV for the loan was 67.5%, slightly above CWU Capital’s typical parameters, as the borrower’s experience, financial profile, and the asset’s location helped support the decision.

Positive pre-application feedback from the local council added confidence around the planning potential and future exit options.

The borrower needed to refinance an existing acquisition facility and release capital already invested into the land.

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Rob Wilkinson, founding director at CWU Capital, commented: “This was one of the first deals we completed under our new funding line, so it was important to get the detail right without losing momentum.

“The way everyone worked together, from brokers to surveyors to lawyers, really made the difference.

“We trust Tapton to bring well-structured cases, and this was no exception.”

James Lennon, managing director at Tapton Capital, said: “We’ve worked with CWU on several complex deals and they remain a top tier funding partner.

“Their pragmatic approach and responsive communication allowed us to push this through quickly, even with a challenging asset.

“It's a brilliant example of what’s possible when everyone’s aligned and focused on getting the right outcome for the borrower.”