Maslow Capital supports the redevelopment of a brownfield residential scheme in hammersmith with a €17.04million loan facility
London, 04 May 2021– Specialist real estate development finance provider Maslow Capital has announced the completion of a €17.04million development facility, secured against Mountwood’s 34-unit residential scheme, located on Fulham Palace Road in Hammersmith, London.
The €33.6million GDV scheme will deliver 34 residential units to an area that has experienced a surge in rental demand, brought on by the changing preferences of tenants who are increasingly prioritising well connected locations with green space and local amenities over inner city living. This is the second housing scheme Maslow Capital have supported in April, having also funded the development of a €83.88m residential scheme in Bracknell.
The project, which is expected to reach practical completion in Q1 2023, will revitalise a disused brownfield site, providing genuinely affordable homes for buyers and pre-let commercial space, that will bring life back to this West London location.
In support of the developers ambitions to reduce carbon emissions, the scheme will make use of innovative green technologies such as solar panel roofing, rainwater harvesting, heating with Air Source Heat Pumps and cooling with individual air extraction and circulation in each apartment. In addition to its green construction considerations, residents will gaze across green roofs and a local park whilst benefiting from secure underground storage for 60 bicycles and 6 car park spaces fitted with electric charging points.
Emma Burke, Deal Origination at Maslow Capital, said: “Charles and the team at Mountwood are revitalising a previously disused brownfield site in an area that has seen huge growth in rental demand as a result of the pandemic. Maslow found itself perfectly aligned with Charles’s vision and we are proud to play our part in revitalising the area”.
Anthony Raud, Associate at Maslow Capital, added: “We are very excited to be supporting the development of a well-positioned scheme, that will benefit from Mountwood’s reputation and track record of delivering high-quality homes. The wide range of communal facilities, amenities and excellent transport links will appeal to purchasers, along with the important environmental initiatives that will be undertaken.”
Charles Rahder, Owner and CEO of Mountwood said: “We were presented with a number of funding options for this regeneration opportunity but chose Maslow as our funding partners due to their experience in dealing with the complexities of this type of transaction. We were very pleased with Maslow’s ability to meet our expectations and timeline in order to commence delivering this scheme and we look forward to working with Maslow again on our future projects”.
