Maslow Capital Provides £22 Million Development Loan to Support Harlow Residential and Commercial Scheme
London 30th October 2024 – Specialist real estate finance provider Maslow Capital has delivered a £22 million development finance package to Lotus Living, facilitating the construction of 116 private residential units and a commercial space in Harlow, Essex. This mixed-use scheme will include a variety of residential options, from one-bedroom apartments to three-bedroom units and duplexes, alongside 15 commercial units designed to benefit residents and the surrounding community.
The project is situated in Harlow, a town undergoing major regeneration through an Area Action Plan set to transform the town centre with new cultural, residential, and commercial amenities. The area is becoming increasingly popular for those commuting to London, with Liverpool Street Station only 30 minutes away by train and Stansted Airport a short drive to the north.
The scheme incorporates several sustainability features, including brown and blue roofs that help to reduce urban flood risk while also supporting local wildlife. The development also includes over 700 square metres of communal space, secure cycle storage, and 71 car parking spaces, including five designated disabled bays, to enhance access and convenience for future residents.
Rajiv Nehru, CEO at Lotus Living, commented: “We are delighted to have Maslow Capital’s support for our Harlow project, which enables us to advance a development that aligns with our commitment to sustainable and community-focused growth. It’s a significant step towards revitalising the local community and stimulating economic growth in the area. Our aim is to create a vibrant, sustainable neighbourhood that offers exceptional living and working opportunities. Maslow’s expertise and support have been instrumental in turning our vision into reality.”
James Henry, Director of Origination at Maslow Capital, commented: “This £22 million loan reflects our confidence in Harlow’s growth potential and Lotus Living’s capability to deliver high-quality developments. We are excited to support a project that brings new housing and commercial opportunities to an evolving area. Maslow Capital is committed to helping developers create thriving communities, and this project is an excellent example of that mission in action.”
Nick Swerner, Director at GLPG (Capital Advisory), commented: “Working with Maslow Capital on this financing has been a highly collaborative process. Their ability to tailor solutions to meet the specific needs of this project has been invaluable. We’re proud to have played a part in securing funding for Lotus Living, and we look forward to seeing this project contribute positively to Harlow’s revitalisation.”
