We were pleased to support our borrower with a £17.2m development facility, secured against their 60-unit residential scheme in the desirable Pitshanger Village of Ealing, London. This deal marks the second project Maslow Capital and the borrower have partnered on, following the successful completion of a £7.3million development loan in 2021.
The project will see a brownfield site transformed into a state-of-the-art residential development featuring 60 high-quality apartments, 116 secure bicycle spaces and allocated disabled car parking spaces. The 8-storey development will be centred around a private communal garden with all apartments enjoying dual aspect views with either a balcony or terrace.
Located just 0.3 miles from the picturesque Pitshanger Park and a short walk from the bustling High Street of Pitshanger Lane, with its array of restaurants, cafes and shops, this development is perfectly situated for modern urban living.
The project not only aims to address the shortage of housing in the area, but also serves as a model for environmentally-conscious design. To achieve this goal, the development will include air source heat pumps, solar panels, heat recovery technology and on-site electric vehicle charging stations. These measures are expected to result in a 64.4% reduction in regulated emissions on site. Under current plans, the developer will retain the existing mature trees surrounding the site, in addition to planting 14 new trees and incorporating a green roof to be enjoyed by residents.
Emma Burke, Head of Origination at Maslow Capital said: “We are pleased to have successfully completed this financing deal with Camrose London and to be supporting the development of such a forward-thinking residential development in the heart of Ealing. At Maslow Capital, we are committed to supporting the development of high-quality, sustainable and community-focused projects, and we believe this development truly embodies those values. We are confident that it will be a valuable asset to the Ealing community and a sound investment for our client.”
Anthony Raud, Deal Origination at Maslow Capital said: “We take great pride in being a client-focused development finance provider and value the opportunity to work with a repeat, growing and thriving borrower like Camrose London. We believe this new development will greatly benefit the community and we are thrilled to see our borrower’s plans come to life.”