A land assembly and planning strategy loan

Project details

The Borrower’s strategy evolved over three phases, beginning with the assembly of six contiguous freehold plots where they secured planning consent for 237 residential units and 37,500 sq. ft of commercial space. Responding to shifts in market demand, significant changes to the regulatory environment and recognition of a chronic undersupply of PBSA (Purpose-Built Student Accommodation) locally, the Borrower subsequently secured a revised planning consent for a new scheme comprising 429 private PBSA beds, 95 affordable homes, and c.40,000 sq. ft of commercial accommodation. Over the course of the project, ASK facilities supported site acquisition, planning costs, and professional fees, as well as providing the flexibility to allow the Borrower to reposition the business plan in response to market changes. 

Lending rationale

Bollo Lane is situated in Acton, within the London Borough of Ealing, a micro-location experiencing significant regeneration and benefiting from excellent transport connectivity, including Acton Town (District/Piccadilly lines), South Acton (Overground) and the new Crossrail station. The location is well placed for both students and families, offering access to universities, green spaces, and evolving local amenities. The site was underpinned by substantial equity investment from the borrower, robust guarantees, and a planning-led approach, ensuring that value could be realised through multiple exit routes: forward funding, JV, or direct land sale. Independent studies confirmed a 4.4:1 student-to-bed undersupply in Ealing, further supporting the revised PBSA-led strategy. 

ASK's value add

ASK’s partnership and flexible capital structure enabled the Borrower to successfully assemble and reposition the site over multiple phases. Our longstanding relationship with the borrowers, supporting five transactions to date, allowed us to work closely as their business plan evolved, de-risking planning and maximising value for all stakeholders. Each facility was structured with a prudent LTV (sub-50% on latest Red Book), sensible recourse, and clear downside mitigants, while offering investors attractive, risk-adjusted returns. 

Joe Freedman, Head of Origination at ASK Partners, said: 

“Bollo Lane is an excellent example of how ASK’s flexible funding can help experienced developers maximise value in a changing market. Our team supported the borrower from site assembly through to planning success, enabling a transition from traditional residential to PBSA to match local demand. The project underlines our commitment to repeat clients and planning-led value creation.” 

Harry De Lotbiniere, MD of Hurlington Capital, said: 

“ASK was very responsive and understood the complexities of assembling the site and securing planning. Their flexibility meant we could pivot our business plan, add value, and move rapidly as the market shifted. Having a lender that truly partners with you makes all the difference.” 

Watch our client testimonial here

Contact

For more information on other transactions or similar facilities please get in touch with Joe Freedman