Aparthotel
The Gresham,
Leicester
GDV £20m
Units 121
Deal Duration 15 months
Build Type third party contractor
The Gresham, Leicester

Maslow was pleased to fund the conversion of this former department store into serviced apartments and co-working business space with associated facilities. Fenwick’s was an iconic retail location in Leicester, and the borrower was keen to ensure that the site could be brought back into public use. The building itself is a prime example of Leicester’s Victorian architectural heritage and is grade-II listed.

The scheme which opened to the public in November 2021 now hosts a state-of-the-art co-working space, onsite gym, basement commercial units and a contemporary restaurant and bar that will serve aparthotel guests as well as being open to the public.

How this scheme is making a difference

During construction, the developer kept a strong focus on actively contributing positively to the environment and giving back to the local community by donating materials that were no longer needed to local companies, in a bid to reduce waste and support small enterprises. One example of this involved the borrower helping a local furniture business collect leftover wood from the site, to make high quality furniture with reclaimed materials.

Originator: Emma Burke
Associate: Anthony Raud
Finding a funding partner is relatively easy, finding a funding partner that understands the application of finance and how it is utilised beyond their world is actually rather difficult. What Maslow has been able to display is an empathy towards the requirements of a developer and contractor. This understanding allows them to make decisions in a controlled and pragmatic manner. Working with them throughout the COVID period has been a calm process, in a market that has been anything but calm. This was only possible by working with the seasoned subject matter experts Maslow has in their team.
Mark Copson, director of Aimrok Holdings and The Gresham

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