Cynergy Bank provides £26.4m refinancing for build-to-rent development in Worcester
Cynergy Bank has completed a £26.4m deal with Farlane Capital, supporting the refinancing and stabilisation of Sheriff’s Gate, a newly delivered 213-unit build-to-rent (BTR) residential development in Worcester.
The Sheriff’s Gate development, acquired by Farlane Capital in April 2025, is situated in Worcester’s Shrub Hill regeneration zone. This project addresses the city’s pressing need for quality rental housing, offering modern living spaces in an area undergoing significant revitalisation.
Cynergy Bank’s financing arrangement includes a 12-month stabilisation period, providing Farlane with the flexibility to implement its letting strategy effectively. The loan structure features a margin stepdown upon achieving key performance milestones, aligning with the project’s operational goals.
Bryan Hawkins, relationship director at Cynergy Bank, commented: “We are proud to have partnered with Farlane Capital to support the delivery of this scheme in Worcester. This transaction adds to Cynergy Bank’s growing portfolio in the living sector and reinforces our commitment to supporting sustainable housing solutions in regional growth areas across the UK.”
Grant Livingston, founder & managing partner at Farlane Capital, stated: “We are grateful for Cynergy Bank’s partnership on the £26.4m refinancing of Sheriff’s Gate. Their flexible financing, including a 12-month stabilisation period, was crucial for this 213-unit Build-to-Rent development, which serves as the first of its kind in Worcester. This collaboration reinforces our ongoing efforts to deliver quality, professionally managed rental homes under our Nara Living brand, contributing to the solution for the UK’s structural housing shortage.”
This transaction underscores Cynergy Bank’s ongoing commitment to the UK’s living sector through tailored financing solutions, particularly for recently completed developments and assets nearing operational maturity. Sheriff’s Gate exemplifies the Bank’s strategic focus on supporting quality, professionally managed rental schemes in regional markets where demand for modern, purpose-built accommodation continues to outpace supply.