Maslow Capital provided a €66 million development finance package to support the second phase of Heaton Group’s landmark Berkeley Square development in Salford, Greater Manchester. This latest tranche of funding follows Maslow’s initial €54 million facility for Phase One, reinforcing its commitment to supporting leading sponsors in delivering high-quality living sector projects.
Situated on Ordsall Lane in Salford, Berkeley Square is a luxury development positioned between Manchester city centre and MediaCityUK. The project comprises 500 residential units, split evenly across two phases. Phase Two will complete the scheme with 250 new apartments, offering a mix of one-, two-, and three-bedroom homes.
Residents will enjoy a range of premium amenities, including a state-of-the-art gymnasium, co-working spaces, concierge services, and scenic river views. Designed by award-winning architects, the development fosters a sense of community, with all apartments centred around a landscaped communal square and supported by an on-site Community Manager. As part of The Heaton Group’s innovative approach, a dedicated app will further enhance resident engagement, enabling them to form clubs, support local businesses, and manage tenancies.
Sustainability is a key focus of the scheme, with energy-efficient features such as photovoltaic (PV) panels, recycled aggregates, and low-carbon technologies incorporated throughout. Additionally, the development will provide 568 cycle parking spaces and electric vehicle charging points, supporting sustainable transport options.
Manchester remains one of the UK’s fastest-growing cities, with housing demand forecasted to require 36,000 new homes over the next decade. Salford, in particular, has experienced one of the UK’s highest house price growth rates, with a 4.9% increase over the past year—highlighting the area’s growing appeal to both residents and investors.
Completion of the entire Berkeley Square development is anticipated in 2026, reinforcing Salford and Manchester’s status as prime locations for high-quality urban living. Maslow Capital’s second phase of funding further solidifies its commitment to financing innovative, sustainable, and high-impact residential schemes across the UK.
Sky Mapson, Senior Director, Development Origination at Maslow Capital, commented:
“At Maslow, we place a strong emphasis on service, enabling us to build long-term relationships with clients based on experience, trust, and certainty of funding—key factors that continue to drive our clients’ growth and success. We are proud to see this strategy in action through the completion of this loan and our continued support for The Heaton Group in delivering Berkeley Square. This high-quality, amenity-led development will provide much-needed housing in a prime location, contributing to Salford’s ongoing regeneration and growth.”
Rachael Gordon, Head of Deal Execution (UK & Europe) at Maslow Capital, commented:
“Salford continues to establish itself as a key growth hub within Greater Manchester, attracting both residents and investors drawn to its strong economic fundamentals and ongoing regeneration. The city’s expanding employment opportunities, coupled with a thriving rental market and increasing demand for high-quality housing, reinforce its long-term appeal.”
Simon Pilcher, Managing Director of Pilcher Capital Partners, who introduced the deal to Maslow Capital, commented:
“We are delighted that our Strategic Treasury Function provided the capital origination and negotiation resource to our client, enabling the execution of this transaction, while supporting Heaton’s wider portfolio funding requirements. The successful financing of this scheme is another positive step forward for Heaton, building upon its strong foundations for the future. Maslow remain an excellent financial partner; the team provide first class transactional capability enabling certainty and speed of execution.”