UK: Maslow Capital has provided an £18.1 million development loan to Yari Investments for the construction of a 121-unit coliving project in Feltham.
Development finance lender Maslow Capital has successfully provided Yari Investments with an £18.1 million development loan for the construction of a coliving project in Feltham, south-west London. The 121-unit development is described as a state-of-the-art structure located on High Street, Feltham.
Called Victoria House, the scheme is within walking distance from Feltham station, which has direct access to London’s city centre via Southwestern Railway.
The loan was agreed over a 24-month term, with the borrower set to retain the scheme and operate it themselves.
Units will consist of private studio space with bedrooms and bathrooms, as well as communal spaces including a lounge, kitchen, dining areas, and coworking spaces.
Rachel Gordon, head of deal execution at Maslow Capital, said: “This project exemplifies Maslow Capital’s commitment to supporting the development of high-quality, innovative housing solutions in the UK. The use of modular construction techniques in this project not only allows for faster, more efficient building, but also enables our borrower to deliver a development that is more environmentally friendly. We are pleased to support the use of such innovative methods and believe they will play a key role in the future.”
MY Construction Limited has been appointed contractor. Yari Investments plans to operate these units as a long-term investment. Capital advisory company Brotherton real estate brought the deal together. Robert Kleinman, CFO at Brotherton Real Estate said: “We have no doubt that they will make a fantastic team, with Yari Investment’s innovative vision and Maslow Capital’s expertise in development finance coming together to deliver a development that will truly set a new standard for city living.”
Nir Zamek, the owner and director of Yari Investments said that he is “thrilled to have received the support of Maslow Capital in bringing this exciting coliving development to fruition. Their expertise in development finance has been invaluable in helping us bring our vision to life, and we can’t wait to welcome young professionals to this fantastic property.”
