The £28m GDV project — which is set to deliver 34 residential units — will revitalise a disused brownfield site, providing affordable homes for buyers and pre-let commercial space.
The development will use green technologies, such as solar panel roofing, rainwater harvesting, air source heat pumps and cooling with individual air extraction and circulation in each apartment.
In addition, it will offer underground storage for 60 bicycles and six car park spaces fitted with electric charging points.
The loan was agreed on a 26-month term, with the scheme expected to reach practical completion in Q1 2023.
“We are very excited to be supporting the development of a well-positioned scheme that will benefit from Mountwood’s reputation and track record of delivering high quality homes,” said Anthony Raud, associate at Maslow Capital.
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“The wide range of communal facilities, amenities and excellent transport links will appeal to purchasers, along with the important environmental initiatives that will be undertaken.”
Charles Rahder, owner and CEO of Mountwood Homes, added: “We were presented with a number of funding options for this regeneration opportunity but chose Maslow as our funding partner due to its experience in dealing with the complexities of this type of transaction.
“We were very pleased with Maslow’s ability to meet our expectations and timeline in order to commence delivering this scheme and we look forward to working with it again on our future projects.”
In April, Maslow Capital completed a £43.5m loan for SevenCapital’s mixed-use development in Bracknell.