Cynergy Bank has finalised a £26.4 million refinancing agreement with Farlane Capital to support the stabilisation of Sheriff’s Gate, a recently completed 213-unit build-to-rent (BTR) residential project in Worcester.
Farlane Capital acquired the Sheriff’s Gate scheme in April 2025. Located within Worcester’s Shrub Hill regeneration district, the development addresses the city’s strong demand for high-quality rental housing and offers contemporary accommodation in an area undergoing extensive renewal.
The facility provided by Cynergy Bank incorporates a 12-month stabilisation phase, giving Farlane the flexibility to roll out its letting strategy. The loan also includes a margin reduction tied to specific performance milestones, designed to align with the operational objectives of the scheme.
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 £26.4 million 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 deal reflects Cynergy Bank’s continuing focus on the UK’s living sector, providing bespoke funding solutions for recently completed and near-operational developments. Sheriff’s Gate represents the Bank’s strategy of backing well-managed, purpose-built rental housing in regional markets where demand for modern accommodation is rising faster than supply.
