Maslow Capital completes £26.7m development loan

By Bridging Loan Directory 21st October 2021

Specialist real estate development finance provider Maslow Capital has announced the completion of a £26.7m development loan, supporting Meadow Partners 76-unit residential scheme in the suburb of Willesden Green, North London.

According to CBRE, house prices in the borough have grown by 12% over the last 5 years, with a further 15% growth anticipated over the next 5 years.

This level of growth has been assisted by a high level of overground and underground stations in the immediate area, making it an attractive place for commuters to live.

The development itself will involve the demolition of a vacant used car garage, replacing it with a residential project, comprising a part-seven and part-four storey building.

The scheme, which was introduced to Maslow by David Yeadon of SPF Private Clients, will comprise 76-units, 13 of which will be classed as ‘affordable’.

Residents will also benefit from secure basement parking for 18 cars and cycle storage for 138 bicycles.

The scheme will be constructed by experienced contractor, HG Construction Limited, and is set to be completed in January 2023.

David Yeadon, Executive Director at SPF Private Clients said:

“Many thanks to Anthony, Emma and the wider Maslow Team for their invaluable support with this transaction.

As always, the Team’s experience and professionalism throughout the entire funding process has been first class and we look forward to concluding further pipeline opportunities on behalf of our client with the Maslow Team.”

Emma Burke, Deal Origination at Maslow Capital, said:

“Maslow Capital have had the opportunity to partner with some of the UK’s most respected property companies for over a decade.

Examining each scheme on its own merits rather than a list of pre-defined rules give us added flexibility to complete complex transactions and deliver for our clients.

We look forward to working with Meadow Partners and their team on this excellent scheme which is set to breathe new life into underutilised land.”

Anthony Raud, Associate at Maslow Capital, said:

“We are thrilled to be supporting an institutional and globally recognised real estate firm in Meadow Partners.

They understand the London residential development market and this well-positioned scheme will benefit from their proven track record and experience.”