Shawbrook Bank has provided £2.5 million in development finance to APS Homes to fund the conversion of a Grade II listed former nursing home in Bath into seven residential apartments. The 18-month facility covers the full 100% of development costs for the 1857 building, which carries an estimated gross development value of approximately £5 million once complete. On the surface this is a modest, single-site transaction. Beneath it, however, lies a signal worth reading closely: specialist lenders are once again prepared to fund complex, heritage-constrained conversions at aggressive leverage, at a moment when many mainstream banks remain cautious about anything involving listed building consent, planning risk, or non-standard construction.