Residential & Mixed-use
GDV £17m
Units 82
Deal Duration 21 months
Build Type self build
Lyceum, Manchester

Maslow was delighted to have provided a £10m loan to Integritas Property Group (IPG), a Northwest based ethical property developer. The loan will fund the next stage of IPG’s 82 unit residential development at The Lyceum, Greater Manchester.

The Lyceum, a Grade II historical landmark in the heart of Manchester, is being meticulously restored in line with the high expectations of English Heritage. It originally opened as The Old Palace Theatre in 1899, later becoming a cinema in 1932 and a bingo hall in 1963, before falling into disrepair internally in the late 1980s.

IPG took over The Lyceum, Greater Manchester development in 2020 after the previous developer went into administration, establishing the Lyceum Investors Group to protect investors’ interest and ensure the site’s completion as planned.

Deal Team:
Sky Mapson
Rachael Gordon

Sky Mapson, Deal Origination at Maslow Capital, said: “Maslow Capital is dedicated to supporting ethical, forward-thinking, and ambitious developers, and IPG fits this profile perfectly. The development plan presented by IPG showcased a strong commitment to preserving the historical elements of the property, while simultaneously incorporating new construction and sustainable energy elements. We are pleased that Maslow’s collaboration with the borrower could safeguard the project’s investor interests and ensure the site’s completion as planned.”

Rachael Gordon, Head of Deal Execution at Maslow Capital added: “The project’s focus on creating affordable housing and rejuvenating a Grade 2 listed building that had fallen into despair, aligns well with our values of enhancing local communities. We’ve had the pleasure of partnering with many ambitious developers in the Northwest, each of whom brings unique insights and innovative approaches to property development. This diverse development community, combined with the region’s strong growth prospects have created a historical link between Maslow and the Northwest.”

Securing this loan marks the next step in turning what could have been a disaster into a positive situation with this development. We are delighted to have overcome these challenges – this loan facility now enables us to swiftly continue construction and make progress towards completing the development on budget and on time in Q1 of 2024. IPG has a long-standing aim to become a beacon in the development community, with a solid track record of completed projects. This loan from Maslow Capital will enable IPG to take the next step towards another successfully completed project.
Mitchell Walsh, Managing Director of IPG

Sky Mapson

Senior Director, Development Origination

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