Maslow Capital supports the construction of 83 flats in the London Borough of Ealing with a €22.8m development facility
London, 16 Sep 2021– Specialist real estate development finance provider Maslow Capital has announced the completion of a €22.8m development facility supporting Henry Construction with an 83-unit residential scheme in Ealing, North-West London.
Upon completion, the eye-catching scheme located on Greenford Road, will comprise a part 14-storey, part 5-storey and part 3-storey residential building that will accommodate 83 flats, 24 of which will be ‘Affordable Units’. Residents will also benefit from 31 car parking spaces and a car sharing club organised by the project’s developers. The redevelopment of the site will involve the safe demolition of a petrol station, with their experienced construction arm Henry Construction Limited undertaking the development of the scheme.
The €38.4m GDV project, which was introduced to Maslow by Brotherton Real Estate will help ease a structural undersupply of housing in the microenvironment, where the CBRE forecast house price growth to reach 17% following the 2022 opening of the Elizabeth Line/Crossrail.
The development is being constructed with Aluminium cladding, metal railings, Staffordshire blue brick, Stock brickwork, Galvanised steel fins, Double glazed windows and composite external doors.
As part of the developers S106 contributions, Henry Construction will offset their carbon production, plant additional trees, and contribute to new healthcare infrastructure, education facilities and highways.
“We were delighted to work on this development project, providing sought-after new homes to the local area. Assisting our impressively entrepreneurial contractor/developer client, has been a pleasure and we wish them every success with the project. Huge thanks to the Maslow team who have taken a pragmatic and commercial approach throughout the execution process; we are sure they will be an excellent working partner for our client.” Robert Kleinman, CFO at Brotherton Real Estate
“We are delighted to have closed this transaction with Maslow, which will enable us to build and deliver much needed high-quality housing for the London Borough of Ealing. The financing completed in an efficient and timely manner and that is thanks to the assistance of Brotherton Real Estate and the proactive and commercial approach of our new lending partner. I look forward to continuing our relationship with Maslow throughout the construction period, and on future projects.”Charles Leigh, Development Director at Henry Construction
“This project has had the involvement of a leading team, with communication between Maslow, Henry Construction and Brotherton Real Estate being exemplary throughout. In addition to the strengths of the project, this consistent level of dialogue between all parties has allowed the deal to move through the credit and due diligence process smoothly and efficiently.”Rachael Gordon, Senior Associate at Maslow Capital
“At Maslow Capital, we strive to back experienced professionals who are delivering high-quality real estate at affordable price points. Henry Construction have a proven track record of doing just that. Maslow Capital is delighted to be a part of the team involved in delivering this scheme, which is set to provide much needed affordable housing for the local demographic.”Sky Mapson, Deal Origination at Maslow Capital
