Roma Finance delivers £1.1m commercial bridge in seven days

Roma Finance has completed a £1.1m commercial bridge in seven days for Hatters Square Limited.

The £1.1m facility was provided at 55% LTV against the property's £2m market value over a six-month term.

The facility was delivered through Roma's FLOW commercial bridging proposition, with the lender's commercial mortgage team also involved in assessing the potential longer-term exit.

Hatters Square Limited is a property holding company co-owned by property professional and broker Michael Street and Josh Berry, a property developer who has completed more than £4m worth of property developments over the past decade.

The pair acquired the commercial premises on Market Street in Denton in 2024, which is now currently being used as a food and drinks hall by existing tenants.

The new funding enabled Hatters Square Limited to repay its existing lender, while providing time to establish a stronger trading track record for the property and complete the valuation required for its longer-term funding plans.

Subject to the property meeting the relevant criteria, Hatters Square Limited has the potential to transition to longer-term finance with Roma.

Michael Allison, commercial director at Roma Finance, said: “This is a fantastic result for our commercial team and a real reflection of how much our commercial proposition has developed.

“What's particularly pleasing here is the opportunity to build on an existing relationship. The bridge meets the customer's immediate requirements, but there is a clear longer-term opportunity for us to continue working with them.

“For us, that's what good relationship-led lending should look like.”

Michael Street, co-owner of Hatters Square Limited, said: “This transaction came together exactly as we had hoped; with speed, clarity, and a lender who understood the opportunity from day one.

“Roma was able to take a pragmatic approach, understand our respective experiences and delivered the funding in just seven days.”