The scheme will comprise 251 homes, with a mix of apartments and townhouses.

The transaction marks the second time Maslow Capital has supported Linear Living, having previously provided £18m of financing for its Trafford Gardens development in Manchester.

Sky Mapson, senior director of origination at Maslow Capital, commented: “Agreeing both phases from the outset, pre-Gateway, gives sponsors a level of certainty that’s hard to achieve in today’s market.

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“We’re particularly pleased to be working with Linear Living again following the successful funding and delivery of Trafford Gardens, and to support the team as it advances another prominent Manchester scheme.”

Rachael Gordon, head of deal execution (UK & Europe) at Maslow Capital, added: “Manchester continues to attract sustained demand and institutional investment, with regeneration frameworks helping to shape the next phase of city-centre growth.

“In that environment, projects benefit from funding that is aligned to deliverability and sequencing, and we are pleased to support Linear Living as it progresses plans for a landmark scheme at Lord Street.”

Stephen Holmes, CEO at Linear Living, said: “Securing a joined-up bridge-to-development facility was a key priority as we progress One Lord Street.

“Having bridging finance available at pre-Gateway, alongside an agreed follow-on development facility once Gateway approval is achieved, provides certainty and keeps the project moving forward.

“We valued Maslow Capital’s constructive, solutions-led approach and look forward to progressing proposals that will support the Green Quarter’s continued regeneration.”