Maslow Capital provided an €10.14 million loan secured against a commercial office block in Drayton Park, Highbury. Originally a 1930s warehouse, the property has undergone a significant transformation, with Maslow’s loan supporting the final stages of its fit-out and leasing.
Project & Borrower Background
The refurbishment included a change of use, full interior and exterior renovation, and an upward extension adding two additional stories. The asset now offers 26,400 sqft of commercial space, comprising:
- 2,050 sqft restaurant unit on the ground floor
- 24,350 sqft of Grade A warehouse-style office space across the basement, ground, and four upper floors
- Open-plan office accommodation with modern specifications
The borrower, an experienced property investor, also owns the adjacent building, reinforcing their strong market presence in the area.
Key Highlights & Market Demand
- Newly refurbished Grade A office space – High-quality finish with strong ESG credentials.
- Strong occupational demand – The borrower owns the neighbouring property, supporting tenant demand and leasing strategy.
- Prime North London location –
- 2 miles north of Clerkenwell, 1.5 miles from Kings Cross, and 1 mile west of Stoke Newington.
- Close to major transport links, including Drayton Park Overground (0.1 miles), Holloway Road Underground (0.3 miles), and Arsenal Underground (0.5 miles).
- High occupancy potential – The ground and fourth floors are fully let, with the remaining floors in the final stages of fit-out.
- Sustainability credentials – The building features strong EPC ratings: B (38) for the ground floor and A (25) for the fourth floor.
Results
Maslow Capital’s loan provides the borrower with the necessary funding to complete the redevelopment and secure tenants for the remaining office space. The asset is well-positioned for strong rental yields and long-term value appreciation in a prime London location.