At Cator Wells Finance, we pride ourselves on backing ambitious developers and helping turn complex opportunities into completed transactions.
We are pleased to announce the successful arrangement of an £11.8 million development finance facility for the redevelopment of Lee Circle, a landmark city centre site set to be transformed into a major new residential-led scheme.
The Opportunity
Located in the heart of Leicester, the former industrial and commercial site at Lee Circle represents a prime regeneration opportunity within one of the UK’s strongest regional cities.
The project will deliver a substantial new development that will breathe new life into a strategically positioned brownfield site, contributing to the continued growth and modernisation of Leicester city centre.
The Challenge
While the site itself was highly attractive, the funding journey was far from straightforward.
This was a complex transaction involving:
- A group ownership structure with multiple stakeholders
- First-time directors leading the borrowing entity
- A new development company with no prior track record
- A large funding requirement approaching £12 million
- Multiple legal, structural and commercial hurdles throughout the process
Many lenders would immediately view a transaction of this nature as outside appetite. However, at Cator Wells, we look beyond surface-level obstacles and focus on how deals can be made to work.
Our Involvement
We first met the developers in October 2024, long before the finance process formally began.
From day one, we worked closely with the client team over the following 12 months, helping them prepare for funding by advising on:
- The right professional team structure
- Presentation of the scheme to lenders
- Borrower and ownership structuring
- Funding readiness and lender expectations
- Risk mitigation strategies
- How to strengthen the overall proposition
By the time the project was ready to go to market, the groundwork had been carefully laid.
Delivering the Funding
Once launched to market, we leveraged our long-standing relationships with specialist development lenders to create strong competitive interest.
Throughout the process, we remained heavily involved, including:
- Multiple site visits
- Ongoing strategy meetings with the client
- Managing lender communication
- Resolving underwriting concerns
- Navigating ownership and legal complexities
- Helping the client overcome the many hurdles common with transactions of this scale
Following a highly detailed process, we successfully secured and completed an £11.8m development finance package, enabling the project to proceed.
Why This Matters
This transaction highlights an important truth in development finance:
Sometimes lenders do not just back sites — they back people, preparation and execution.
Where others may have seen inexperience and complexity, we helped present a credible, fundable proposition backed by the right structure and the right support.
Need Funding for a Complex Development?
If you are acquiring land, planning a ground-up scheme, or struggling to secure funding for a challenging development, Cator Wells Finance can help.
We are not just brokers. We become part of your power team.
Get in touch today to discuss your project.