Secure Trust Bank has launched a £100 mln (€140 mln) property fund focused on the conversion of commercial to residential assets.
Secure Trust Bank has launched a £100 mln (€140 mln) property fund focused on the conversion of commercial to residential assets.
The new fund complements the AIM-listed Manchester-based group's real estate finance arm, which advanced £135 mln to customers through development projects across the UK.
The fund launch comes just days after the UK government pledged to create a £1 bn brownfield regeneration fund for the construction of 275,000 affordable properties.
'With the government pledging to address the housing shortage through a number of new brownfield initiatives, the next few years will be an extremely exciting period for real estate development,' said Paul Marston, managing director at Secure Trust Bank.
'The market is continuing to see an increased appetite from property developers looking to revitalise unloved suburban areas with innovative new commercial to residential schemes,' he added.
