The £ 28million GDV program on Fulham Palace Road is expected to deliver 34 residential units in an area that has seen increased rental demand, driven by changing tenant preferences who increasingly prioritize well-connected pitches with green and local spaces. amenities about downtown living.
Fulham Palace Road is just minutes from the Thames, with its many charming riverside walks, and close to Bishops Park, a relaxing green space right by the river. Across the river is the London Wetland Center in Barnes and Wandsworth Park is also quite close.
In the other direction, the vibrant and characterful center of Hammersmith – full of restaurants, pubs, shops, cultural venues and a regular food market – is a short walk away, while Shepherd’s Bush is a little further but still within easy reach. accessible on foot.
The Mountwood development on Fulham Palace Road is the second housing program that Maslow Capital supported in April, having also funded the development of a £ 69.9million residential program in Bracknell, a popular suburban town in Berkshire .
The Hammersmith project, due for completion in the first quarter of 2023, will revitalize a disused brownfield site, ‘providing truly affordable homes for buyers and pre-let commercial space, which will bring this west London location back to life’ ‘.
With sustainability being such a hot topic at the moment, the program will use innovative green technologies such as solar panel roofing, rainwater harvesting, heating with air-source heat pumps and exhaust cooling. and individual airflow in each apartment, to support Mountwood’s ambitions. to reduce carbon emissions during its redevelopment.
In addition to its green building considerations, the team behind the development said residents will be able to admire green rooftops and a local park while benefiting from secure underground storage for 60 bikes and six parking spaces equipped with charging stations. electric recharging.
“Charles and the team at Mountwood are revitalizing a previously disused brownfield site in an area that has seen tremendous growth in rental demand due to the pandemic,” said Emma Burke, deal signing manager at Maslow Capital.
“Maslow has found himself perfectly aligned with Charles’ vision and we are proud to play our part in revitalizing the region.”
Anthony Raud, Partner at Maslow Capital, added: “We are very pleased to support the development of a well positioned program, which will benefit from Mountwood’s reputation and track record of providing high quality homes. The wide range of common facilities, amenities and excellent transport links will appeal to buyers, as will the important environmental initiatives that will be undertaken. ”
Charles Rahder, owner and managing director of Mountwood, said the developer was presented with a number of funding options for this latest regeneration opportunity, but “ chose Maslow as their funding partner because of their experience in managing the complexities of this type of transaction. ” .
He added, “We have been very pleased with Maslow’s ability to meet our expectations and schedule to start delivering this program and look forward to working with Maslow again on our future projects.”
Founded in 2009, Maslow is a leading provider of property development finance, providing flexible financing solutions for professional developers across the UK, primarily undertaking residential, PRS, BTR, mixed-use and PBSA developments.
Besides Fulham Palace Road in Hammersmith and The Grand Exchange in Bracknell, its portfolio also includes Stamford Road in London, The Gresham in Leicester, The Vantage in Nottingham and London Road in Edinburgh. You can find out more about his portfolio here.
New residential development in Ealing
Sticking to West London and the news that senior mortgage lender CapitalRise has announced the advancement of a multi-million pound senior loan for the acquisition of sites and the development of two luxury single-family homes in Ealing, a popular suburban district with quick links to the center of the capital.
The latest loan follows the platform’s recent announcement of £ 100million in loans issued, against £ 475million of prime real estate, since its inception.
The lender says the first four months of 2021 have been a period of significant growth after an “ exceptional year 2020 ” for CapitalRise, which saw the real estate finance platform close ten multi-million pound loans and fund investments. assets worth nearly £ 120million GDV across London. .
He says past loans have been made in some of the most sought after postcodes in central London, including Grosvenor Square, Eaton Square and Knightsbridge.
The latest new development in Ealing will be carried out by Cantata Properties and will consist of two ‘finished to a high standard’ mirror image detached houses. Each unit will feature four-bedroom suites, a private south-facing garden, and off-street parking.
A popular suburban town, with plenty of green space nearby and plenty of restaurants, pubs, cafes, bars and shops on its bustling street, Ealing also offers solid transport links to central London and the city by road. and rail. This makes the area – which is also home to the iconic Ealing Studios – particularly attractive to buyers and developers.
Ealing Broadway Station is a key transportation hub, located on the Central and District Line and providing national mainline rail services to various destinations. Once Crossrail 1 (or the Elizabeth Line) is finally completed, Ealing Broadway and West Ealing will both have stations on the high-speed line.
On top of that there is North Ealing station (Piccadilly Line), South Ealing (Piccadilly Line) and Ealing Common (Piccadilly and District), making the city one of the best connected in all of London.
Jeremy Ashworth, Director of Cantata Properties, said: “This is an exciting project for us at Cantata, and we are very confident in large part due to the relationship forged with CapitalRise, which immediately proved to be reliable, clear, supportive and encouraging partners, always accessible at the other end of the phone. We are looking very much to work with them on this development and beyond.
Nick Oakley, Director of Loans at CapitalRise, said: “We are proud of our continued support for key developments in London and the Home Counties. This project is another example of high quality development by experienced local developers and we are happy to fund this exciting project.
Work begins on the large Bristol housing project
The Guinness Partnership – founded over 130 years ago and one of the largest providers of affordable housing and care in England – has announced that construction will begin soon on the McArthurs Yard site in Bristol, after the selection of the Hill Group homebuilder as prime contractor.
The site has remained vacant for the past 20 years and was acquired by The Guinness Partnership in June 2018. It is an important port site in Bristol’s historic docks and one of the few areas to remain underdeveloped in the one of the most unique, historic and distinctive parts. from the city.
When completed, the project is expected to provide 142 new homes for sale in the market, shared ownership and social rent, as well as commercial space on the ground floor.
Hill Group has now taken possession of the site, with construction scheduled to begin in early summer.
“We are delighted to begin construction on our McArthurs Yard site in Bristol,” said Catriona Simons, Managing Director of The Guinness Partnership.
“This development, which brings a long-abandoned site back to service, will provide much-needed high-quality homes and is part of our long-term commitment to build new homes and build communities in Bristol and across the country. “
Andy Hill, Managing Director of Hill Group, added: “We are extremely pleased to be working with Guinness on this exciting waterfront project in Bristol. This is the first project Hill has embarked on in this thriving city and we look forward to providing high quality homes and commercial space in this historic harborfront location for current and future generations to enjoy. enjoy for many years. “
The Guinness partnership – which, despite its name, has nothing to do with the internationally renowned Irish stout – has more than 140,000 customers across the country, living in more than 65,000 homes.