01 Jul 2026

Roscap secures £2.665m bridging loan for Manchester development site

A £2.665m bridging loan has refinanced a development site in Burnage, Manchester, releasing capital for the next phase of a 66-home scheme. Recognise Bank completed the facility at 65% LTV, with Roscap structuring the deal from the outset.

Roscap, the specialist debt and equity advisory, has secured a £2.665m bridging loan for a regional property developer with a site in Burnage, Manchester. The 12-month facility was placed with Recognise Bank and completed at 65% LTV.

The loan is secured against a former social and recreational site the borrower bought in 2023. The property includes commercial buildings and three apartments, and since acquiring it, the developer has won planning permission for 66 homes.

The facility was structured on a serviced basis, repaying the existing charge on the site and releasing surplus funds to support the developer's further investment and development activity. The intended exit is through development finance.

Roscap's team led on presenting the deal to Recognise Bank, setting out the borrower's track record and plans for the site alongside the asset itself. That gave the bank the context to assess the opportunity quickly and structure terms that matched where the project was heading, not just where it stood.

Suleman Rafiq, Co-CEO at Roscap, said: "This was a multi-faceted transaction involving a site with a clear development path and a borrower with a strong local track record. Recognise Bank engaged with the detail from the outset and took the time to understand both the asset and the borrower's broader strategy. Their pragmatic approach helped deliver the certainty needed to complete the refinance and release capital for the next phase of activity."

Paul Bagan, Lending Manager at Recognise Bank, said the deal was a strong example of why it matters to understand a borrower's wider plan rather than looking at the asset in isolation. "The site has already moved forward significantly since the borrower acquired it, with planning now secured for 66 homes. We were able to take a considered view of the existing security, the borrower's experience and the proposed exit, and structure a facility that gives them the flexibility to move ahead with the next stage of their plans. Roscap played an important role in presenting the case clearly and working closely with us throughout. That collaboration helped maintain momentum and gave all parties clarity on what was needed to complete."

The Burnage refinance sits alongside a run of UK bridging deals in Roscap's track record, including a £4.2m facility secured against a social housing site in Wakefield and a £3.4m bridge on a residential property in Buckinghamshire. The firm, a boutique real estate capital advisory, structures bridging, development and commercial finance for property professionals across the UK and Europe, working with a panel of banks, funds and private lenders on both sides of each transaction.

Roscap secures £2.665m bridging loan for Manchester development site

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