The project is undertaken by a 50:50 joint venture between UK developer SevenCapital and European real estate investment manager MARK.

The four-year facility will support the JV to deliver the scheme, which will comprise seven residential blocks, offering a mix of studios, one-, two-, and three-bedroom apartments, as well as a select number of duplex apartments and three- and four-bedroom houses.

Of the total units, 40% will be affordable homes.

The site will also include extensive residents’ amenities, including landscaped communal gardens, grand reception and 24-hour concierge service, club lounge and private dining room, gym and spa facilities and ample cycle storage.

In addition, the development will include over 12,000 sq ft of commercial space and 24,596 sq ft of community and leisure facilities.

Start onsite is expected this summer, with a phased development approach — Ardmore Construction has been appointed as the main contractor.

The full lifecycle of the project is expected to span four years.

The £258m loan is the fifth and most significant facility to date provided by Maslow for a SevenCapital development.

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Maslow Capital’s deal origination team members James Henry and Matt Pigram were responsible for originating and structuring the deal.

Ellis Sher, CEO and co-founder of Maslow Capital (pictured above, left), said: “We are very excited to be partnering with the teams at MARK and SevenCapital in what is a landmark development. 

“The construction is highly complex, with the property being built above an operating Tesco car park. 

“In supporting this deal, we have strong conviction that the sponsors can navigate these challenges and deliver what is set to be a remarkable scheme.”

Damien Siviter, group managing director at Seven Capital (right), added: “We are thrilled to work once again with Maslow Capital on this highly significant development in partnership with MARK. 

“100 West Cromwell Road will form an exceptional new landmark for the borough, making use of rare and disused brownfield land to bring high-quality new homes and amenities to this highly sought-after area. 

“As a fifth transaction with Maslow, this is testament to our ability and track record for delivery of large-scale mixed-use and residential schemes that enhance and add value to their surrounding communities. 

“We look forward to beginning work on the construction and launching the first phase of the development in the coming months.”