Maslow Capital’s £13m financing set to transform historic police station into vibrant residential community

By Bridging Loan Directory 18th June 2024

Specialist real estate finance provider Maslow Capital has provided a £13 million development finance package to assist Dixon8 in converting an iconic police station in Crouch End, North London, into a modern residential development.

Set to deliver 29 much-needed homes, including 8 affordable units, the project aims to modernise the existing building and add two new blocks, blending historical preservation with contemporary living.

The site of Hornsey Police Station is situated right in the heart of a residential neighbourhood, conveniently located near Crouch End’s bustling town centre.

Its prime location will offer convenience with easy access to a wide array of shopping, education, and leisure facilities.

Furthermore, the proximity to Hornsey train station and several bus routes and underground stations enhances the appeal of the development.

Aligned with Maslow’s dedication to fostering environmentally responsible and socially inclusive projects, the development integrates several key features aimed at enhancing sustainability and resident well-being.

Key features include the installation of solar energy panels, the construction of a green wall, and the ambition to achieve a 100% biodiversity net gain through thoughtful landscaping efforts.

Prioritising sustainable transport, the design establishes a car-free environment, significantly supported by extensive cycle parking facilities.

Moreover, the project has been designed to incorporate communal gardens and private balconies, further improving the well-being of its residents.

Kuan Leng, Director of Dixon8, said:

“Maslow’s support of our project is a significant vote of confidence in our vision.

Transforming the iconic Hornsey Police Station will create a new North London community while preserving a piece of local history.

Maslow has been a real value-add to our project. Their understanding of the unique challenges and opportunities facing growing developers like us has been invaluable.

We are confident that this project will not only meet but exceed the expectations of buyers.”

James Henry, Director, Development Origination at Maslow capital said:

“Maslow is delighted to support the development of the Hornsey Police Station, delivering much-needed, high-quality residential housing at affordable price points in North London.

This project marks an important transformation of a vacant brownfield site.

The financing demonstrates our strong appetite to fund high-quality living sector assets and highlights our capability to provide funding packages to experienced developers ranging from £10 million to £300 million.”