We were pleased to announce the successful completion of a £18.1m development loan to Yari Investments Limited, enabling the construction of 121 state-of-the-art co-living units in High Street, Feltham, London. This innovative project, located in the fast-developing borough of Hounslow, is set to transform the way young professionals experience city living in the borough.
The borrower, who was introduced to Maslow Capital by Brotherton Real Estate, plans to hold and operate the units as long-term investment. Boasting an excellent location within walking distance of a gym and a retail centre, the property is surrounded by several new build developments and sits within an established residential area. With excellent transport links, including Feltham train station just a short 3-minute walk away and direct access to London’s city centre via Southwestern Railway, the property is perfectly positioned for professionals working in and around the city.
The co-living units, which have been designed with young professionals in mind, are set to be completed by MY Construction Limited, a highly respected main contracting firm with over 200 successful construction contracts within their portfolio. Utilising modular construction techniques and their own offsite production facility, MY Construction aims to deliver a development that is not only of the highest quality, but also environmentally friendly, with all units being prefabricated in the UK using steel frames and double insulation.
Co-living at its finest, these units offer residents their own private studio complete with bedroom and bathroom, while also providing shared communal spaces such as lounge, kitchen, dining areas, and co-working space. This unique concept fosters a sense of community within the building and encourages socialising between households.
With over 60% of the local population able to afford the rent of a unit at the property, the co-living development will not only be stylish and modern, but also highly affordable for the local demographic. Maslow Capital’s successful completion of this development loan is a testament to the strength of the borrower’s business plan and the demand for high-quality, affordable housing in the area.
Sky Mapson, Deal Origination at Maslow Capital said: “We are pleased to have been able to support this innovative project, which we believe will be a valuable addition to the housing market in London. Yari Investment’s strong business plan and London’s high demand for co-living housing made this a compelling opportunity for us, and we are confident that the completed development will be a great success.”
Rachael Gordon, Head of Deal Execution at Maslow Capital said: “This project exemplifies Maslow Capital’s commitment to supporting the development of high-quality, innovative housing solutions in the UK. The use of modular construction techniques in this project not only allows for faster, more efficient building, but also enables our borrower to deliver a development that is more environmentally friendly. We are pleased to support the use of such innovative methods and believe they will play a key role in the future.”
Robert Kleinman, CFO at Brotherton Real Estate said: “We are delighted to have been able to bring Yari Investments and Maslow Capital together on this exciting co-living project. We have no doubt that they will make a fantastic team, with Yari Investment’s innovative vision and Maslow Capital’s expertise in development finance coming together to deliver a development that will truly set a new standard for city living.”