Maslow lends £19m for 14-storey resi development in Ealing



Maslow Capital has completed a £19m development loan to Henry Construction for a 83-unit residential scheme in Ealing, north-west London.

203_2021-10-11-04-53-12pm.gif

The facility, agreed on a 27-month term, will support the safe demolition of a petrol station currently on site and its redevelopment into a 14-storey residential building.

Out of the 83 units, 24 will be affordable homes.

Residents will also benefit from 31 car parking spaces and a car sharing club organised by the project’s developers.

The development is being constructed with aluminium cladding, metal railings, Staffordshire blue brick, Stock brickwork, galvanised steel fins, double glazed windows, and composite external doors.

The developer will also offset its carbon production, plant additional trees, and contribute to new healthcare infrastructure, education facilities, and highways. 

The deal was introduced to Maslow by Brotherton Real Estate.

Sky Mapson, deal origination at Maslow, said: “We  strive to back experienced professionals who are delivering high quality real estate at affordable price points, and Henry Construction have a proven track record of doing just that.

“Maslow is delighted to be a part of the team involved in delivering this scheme, which is set to provide much needed affordable housing for the local demographic.” 

Rachael Gordon, senior associate at Maslow, added: “This project has had the involvement of a leading team, with communication between Maslow, Henry Construction and Brotherton Real Estate being exemplary throughout.

“In addition to the strengths of the project, this consistent level of dialogue between all parties has allowed the deal to move through the credit and due diligence process smoothly and efficiently.”

Charles Leigh, development director at Henry Construction, commented: “We are delighted to have closed this transaction with Maslow, which will enable us to build and deliver much needed high quality housing for the London Borough of Ealing.

“The financing completed in an efficient and timely manner and that is thanks to the assistance of Brotherton Real Estate and the proactive and commercial approach of our new lending partner.

“I look forward to continuing our relationship with Maslow throughout the construction period and on future projects.”

Robert Kleinman, CFO at Brotherton Real Estate, stated: “Assisting our impressively entrepreneurial contractor/developer client has been a pleasure, and we wish them every success with the project.” 



Leave a comment