Maslow Capital supports Birmingham residential project with £18.9million loan facility
Specialist real estate development finance provider Maslow Capital has announced the completion of a £18.9million senior financing package for Merchant Square Capital’s 130-unit residential scheme in Birmingham.
The stunning development will be situated in the beating heart of Digbeth’s regeneration, just a 5-minute walk from The Custard Factory and Smithfield, and 10-minutes from the city centre.
With easy access to Birmingham’s iconic attractions and exceptional rail links, demand is predicted to be high amongst the growing demographic of young talent flocking to Digbeth from London.
Residents of the property are set to experience the outstanding level of internal and external furnishing that has become synonymous with Merchant Square Capital’s modern developments.
The building will be comprised of high specification one and two bedroom apartments with floor-to-ceiling windows offering sweeping views of Birmingham and the surrounding areas.
Other key features of the building will include, car and cycle parking, two landscaped courtyards and a roof terrace overlooking the city’s Southside district.
For residents who require fast and efficient access to and from London, Digbeth will be well serviced by Europe’s largest infrastructure project, the HS2 high-speed rail, which is set to link Birmingham with London in 49 minutes.
Contractor RGB will run the project in line with BREEAM building standards. The scheme which makes use of a brownfield site, will have design considerations such as LED lightning, building fabric performance, air tightness and mechanical ventilation with heat recovery.
With regard to materials, building waste will be crushed on site and reused for piling matt construction with all timber products procured from renewable sources and ethical suppliers.
Adam Wass, Deal Origination at Maslow Capital, said:
“Maslow Capital are delighted to be supporting Merchant Square Capital in what is sure to be a well-received addition to Birmingham’s skyline.
Originating from Birmingham myself, it was great to play a part in the regeneration of this iconic area that is set to experience significant growth.”
Huw Wheeler, Associate at Maslow Capital, added:
“With the Digbeth area of Birmingham undergoing dramatic redevelopment, Maslow are thrilled to be able to assist Merchant Square Capital in providing 130 much needed homes for the thriving young professional population.
The scheme will set a new benchmark for amenity, location, and specification, serving the demands of this emerging demographic.”
Haroon Bhatti, Chief Investment Officer & founder at Merchant Square Capital, said:
“We are absolutely delighted to have Maslow Capital as our senior funder for this development. As part of the Birmingham Big City Plan, the Digbeth area is going through an unprecedented transformation.
Our development will substantially add to the aesthetic of the area as well as providing 130 high quality units, 74 of which are already sold.
Merchant Square Capital’s ethos is in de-risking the development journey at every juncture and with Maslow Capital on board we are confident that this deal will be profitable for lenders, home purchasers and all others associated with this development.”