UTB has committed £24.4 million to fund a redevelopment project in Hampton Wick, south-west London, led by Westcombe Group. The £34 million project will transform a former office building and 218-room student accommodation into 70 modern apartments.

The redevelopment will occur in two phases. The first phase will deliver 22 units, while the second will add another 48, with both phases expected to be completed in just over two years. The final development will offer a range of apartments, from studios to three-bedroom units.

Kamal Pankhania, CEO and Managing Director of Westcombe Group, expressed satisfaction with securing the financing, stating, “We’re pleased to secure this financing, growing our relationship with the bank. We’re committed to continuing to preserve historic buildings across the country, creating housing and other developments for local communities.”

Paul Flannery, Senior Director of Property Development at United Trust Bank, added, “UTB are delighted to support another of Westcombe Group’s exciting projects. We are committed to supporting housebuilders and developers like Westcombe Group, which shares our passion for creating outstanding homes and building thriving communities.”

The redevelopment project aims to enhance the local housing market by providing high-quality residential units and preserving the historical essence of the original structures.