Maslow Capital secures £43m development deal

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  • 20/04/2021
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Maslow Capital secures £43m development deal
Maslow Capital has agreed a £43.5m loan to fund a 242-unit residential development scheme.

 

The deal was secured with SevenCapital as part of a project with a £69.9m gross development value (GDV) in Bracknell.

The pair have partnered on three other residential development projects in Birmingham previously and this scheme took the total GDV across all four deals to £173m.

They said the project has been designed to meet the changing needs of Bracknell’s professional tenant base with a rapid population growth expected due to its thriving technology hub.

It will provide 242 residential units and ancillary commercial space separated into two blocks with 26 units being affordable housing.

The former brownfield site will cater to environmental concerns with electric car-charging points and 340 cycle spaces.

Matt Pigram, head of deal origination at Maslow Capital, said the pandemic had materially changed the preferences of tenants across the UK.

“With young professionals re-evaluating their housing needs and a shift towards remote working, we are seeing a new outflow of movement to well-placed commuter belts across the UK,” he said.

James Henry, deal origination at Maslow Capital, added: “This deal is particularly special for us, insofar that it represents the fourth time we have partnered with SevenCapital, which embodies our

business model of forming long-lasting relationships with quality developers that share our core values.”

Damien Siviter, group managing director at SevenCapital said: “This is yet again a fantastic partnership with Maslow Capital who we have worked with on previous occasions to deliver our pioneering Birmingham developments.”

 

 

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