Hampshire Trust Bank (HTB) has actually offered a ₤ 7.2 million domestic advancement financing facility for an airspace extension task above an existing mixed-use structure in Wood Green, north London.
The 20-month center will money a three-storey upward extension that will include nine property units above the existing three-storey structure. Upon conclusion, the building will include 22 property systems, up from the existing 13, while retaining ground-floor business area occupied by a nationwide retailer on a long-term lease.
The residential or commercial property lies within walking range of Turnpike Lane Underground Station in Zone 3. Preparation approval for the extension was granted in October 2025, with structural reinforcement works finished and authorized before funding was launched.
Funding structure and sustainability features
HTB structured the facility throughout 2 lending items to allow refinancing of an existing lender while development work continues above the occupied structure. The business system’s rental earnings supports financial obligation servicing, while the development element runs within a completely funded structure.
Design plans integrate sustainability procedures including a green roof, heat pumps, solar panels, and enhancements to the existing structure material.
The borrower, a London-based designer with experience in complex metropolitan jobs, plans to retain the property upon completion and re-finance through HTB’s professional home mortgages division. Aria Finance handling director Lucy Waters presented the deal.
Market context for airspace advancement
The transaction shows a wider pattern in recognized London areas where housing delivery increasingly counts on augmentation of existing sites instead of greenfield expansion. Airspace schemes include constructing extra floors on existing structures, a technique getting traction in urban areas with restricted development land.
Alexia Evans, lending director at HTB, stated: “We needed to deliver a full re-finance while protecting the advancement above occupied space and preserving momentum on site. By restructuring the funding throughout two products, we were able to fulfill the borrower’s day-one refinance requirement without presenting extra security or compromising danger discipline.”
Neil Leitch, handling director of development financing at HTB, noted: “In established London locations, brand-new real estate is progressively provided through intensification rather than growth. Airspace schemes test capital discipline as much as building and construction ability.”
Colliers offered assessment services, Job & Structure Consultancy served as keeping track of property surveyor, and Glovers advised on legal matters. HTB’s group included relationship managers Olivia Emmett and Elysia Walters, alongside service development manager Scott Apps.
The center represents an expansion of HTB’s relationship with an existing bank customer, now encompassing development finance.