Cator Wells Finance has secured an £11.8 million development finance facility for the redevelopment of Lee Circle, a high-profile city centre site that will be transformed into a major residential-led development.
The funding package marks another significant milestone for Cator Wells Finance in delivering complex, high-value development transactions across the UK.
Situated in the heart of Leicester, the Lee Circle site represents an important regeneration opportunity, with plans to bring forward a substantial new development that will contribute to the city’s ongoing growth and investment.
The transaction presented a number of challenges, including a multi-owner structure, first-time directors within the borrowing company, and the scale of funding required for a newly formed development entity.
Cator Wells Finance first engaged with the developers in October 2024 and worked closely alongside them over the following 12 months, providing strategic guidance to help position the project for a successful funding outcome.
Support included advising on corporate structure, lender readiness, professional team setup, presentation of the scheme, and managing the many complexities often associated with large-scale development finance transactions.
Once the project was ready to launch to market, Cator Wells Finance leveraged its long-standing lender relationships to generate strong support for the opportunity and guide the transaction through underwriting to completion.
Representatives from the firm also visited the site multiple times during the process, working closely with the development team and all relevant parties to overcome hurdles and maintain momentum.
Daniel Dawson, Director at Cator Wells Finance said: “Transactions of this nature require far more than simply introducing a lender. They require planning, persistence, structure and hands-on support throughout the journey.
“We were involved from an early stage, helping the client build the right foundations before funding was even sought. By the time we approached the market, we had created a proposition lenders could support.
“We are proud to have helped bring this exciting Leicester regeneration scheme to life.”
The successful completion further strengthens Cator Wells Finance’s growing reputation for arranging funding on challenging and high-value development projects, particularly where structure, experience gaps or complexity may deter traditional routes.
