Pollen Street Capital announces upsize to specialist real estate lender Sancus providing a £300 million senior secured credit facility

Sancus Group, a specialist provider of bridging and development finance to SME housebuilders and property professionals, has successfully completed another increase to its senior secured credit facility in partnership with Pollen Street Capital. This £100 million expansion further boosts Sancus’ capacity to fund the continued growth of its property-backed lending platform across the UK and Ireland.

The transaction follows a very strong year of trading for Sancus and builds on a period of robust operational and financial performance, including growth in lending activity, expansion of the loan book and improved profitability, as outlined in the Company’s recent trading update.

The extension reflects Pollen Street’s strategy of backing high-quality counterparties with strong asset security. The amendment also extends the facility term by an additional three years.

Sancus Group is an institutional-quality property lending platform, led by a senior management team with prior experience of building and scaling specialist lending platforms, and supported by a fully integrated origination, underwriting and asset management capability across the UK and Ireland. The business has built a strong and recurring client base and has lent in excess of £1 billion since 2014. This depth of experience aligns closely with Pollen Street’s strategy of partnering with high-quality sector specialists capable of scaling lending platforms in a disciplined and sustainable manner. The extension enables Sancus to continue its broad offer across the residential and commercial sectors in both bridging and ground up development.

James Bevans, Investment Director at Pollen Street, said: “We are pleased to further expand our partnership with Sancus to help provide funding for homes and developments around the UK and Ireland. The business has performed strongly and our increased facility will provide the capacity for the team to continue to grow Sancus’ lending book. Pollen Street provides bespoke scaled facilities to growing businesses who are able to maintain large diversified asset pools with robust underwriting and governance processes.”

James Waghorn, Chief Investment Officer at Sancus Group, said: “We are delighted to complete another extension of our successful partnership with Pollen Street. The increased and extended facility is a strong endorsement of our platform, performance and leadership team and provides enhanced flexibility to support our continued growth across the UK and Irish markets.”