Maslow Capital provides £13.7m development loan to Sheen Lane Developments
Specialist real estate development finance provider Maslow Capital has provided a £13.7million loan facility to Sheen Lane Developments that will see the redevelopment of a disused office block into 64 high quality residential apartments.
The £25million GDV scheme, which is located in Purley, only 3 miles south of Croydon, will enhance the local area through the transformation of a disused building, whilst delivering 64 residential apartments to an area that is popular with London’s professional workforce.
The scheme is a unique island site in a town centre residential location that is arranged over 6 floors.
Upon arrival residents will be greeted by a spectacular central light filled courtyard with an internal garden terrace on the first floor and 360-degree panoramic views on the upper levels of the building.
Each floor will benefit from allocated amenity space such as a gym, cinema, break out areas and communal space. In keeping with growing consumer demand for greener transportation, electric charging car points and cycle storage will also be included.
Emma Burke, Deal Origination at Maslow Capital, said:
“Maslow Capital are pleased to be supporting the redevelopment of this truly unique building.
Sheen Lane Developments have extensive experience in the area of office to residential conversion and we are confident their expertise will bring the unique characteristics of the building back to life.”
Anthony Raud, Associate at Maslow Capital, added:
“Maslow Capital has dynamic funding in place that allows us to provide loans from as low as £5million up to £150million.
Our support of Sheen Lane, which closely follows a £14.2million deal completion in Hammersmith, shows our ongoing support of SME developers.
We are committed to supporting and delivering for customers, no matter the size of the project or debt quantum.”
Andrew Cooper, Director at Sheen Lane Developments, said:
“Sheen Lane Developments are delighted to have completed the acquisition of Capella Court in Purley.
Known locally as the ‘VW Building’, we look forward to redeveloping this landmark building into 64 well sized apartments of the highest quality and interior design.
Purley is a very desirable commuter town and the proximity to the station and the high street will make this a very attractive prospect for first time buyers and investors.
We look forward to the next deal with Maslow Capital.”