Maslow Capital supports SME developer with a £7.3million development loan
Specialist real estate development finance provider Maslow Capital continues with its mission to tackle the UK’s undersupply of housing as it announces its third completion in 6-weeks with a £7.3m loan to Camrose London.
The £11.7million GDV scheme, which is located in Zone 4, Enfield, North London, will add 23 genuinely affordable residential apartments to the local supply of housing, with 18 of the 23 apartments qualifying for the governments help to buy scheme.
Residents will benefit from circa 200sqm of communal amenity space with the vast majority of apartments also possessing a private balcony or designated outside space.
In keeping with the borrower’s commitment to reduce carbon emissions, the scheme will have designated cycle parking, extensive green roofing and rainwater harvesting.
New trees are to be planted in the vicinity of the scheme, which is also walking distance to Broomfield Park, a 21-hectare public park with nature conservation status.
Emma Burke, Deal Origination at Maslow Capital, said:
“Camrose London are an innovative developer with decades of experience.
We are delighted to support them on this new scheme, which will create much needed modern new homes in a popular north London location.
We have been very impressed by previous Camrose projects which have demonstrated the company’s commitment to beautiful and inspiring living spaces.”
Ellis Sher, CEO and Co-founder at Maslow Capital, added:
“SME housebuilders play a vital role in the UK’s housing output, yet in the past 25 years, their number have reduced by 80%, in part due to an inability to obtain finance.
As a lender that recognises the contribution of all housebuilders, we are delighted to support Camrose London with this development facility.”
Victoria Taylor, Director at Camrose London, said:
“Camrose is looking forward to working in partnership with Maslow Capital to provide a gated community of 23 modern apartments in the heart of Palmers Green with off street parking.”