The finance has been provided to housebuilder St Philips Homes to acquire and develop the land situated on Castle Street in the town.

This project will consist of 23 private and 14 affordable homes, designed for young couples, families and the retirement community. The latter properties will be sold to a local housing association.

All of these properties are designed with sustainability in mind and will target ‘A’ EPC ratings.

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In the announcement, Maslow Capital cited a recent report from Stafford Borough Council which highlighted that current housing delivery levels are “significantly” below target levels.

“St Philips and their experienced team have earned an impressive reputation for creating high-quality homes, in desirable and family friendly locations,” said Anthony Raud, director of development origination at Maslow Capital.

“With the completion of our first loan together, we look forward to supporting St Philips on future schemes and accelerating their growth. More broadly, Maslow has appetite to support single family schemes, along with assisting to address the ongoing housing supply shortage across the UK.”