Maslow Capital Secures £36 Million Loan for Residential Development in Maidstone

Maslow Capital, a specialist in real estate finance, has announced a £36 million senior development loan to Audley Construction Group. This funding will facilitate the construction of a residential-led scheme featuring 172 units in central Maidstone, Kent.

The development will consist of two adjacent blocks, standing 11 and 12 storeys tall, and will include 172 residential apartments, 7,320 sq ft of commercial space on the ground floor, and 49 car parking spaces. Construction is already well underway, with significant progress made on the superstructure.

This project addresses a critical housing shortage in Maidstone, which has seen a population increase of 13.3% from 2011 to 2021, significantly exceeding the national growth rate of 6.6%. Currently, only 393 homes are planned within a 1.5-mile radius of the site, indicating that the town’s housing deficit is likely to continue, even with the anticipated developments.

The loan was facilitated by David Yeadon from SPF Private Clients. Emma Burke, Managing Director and Head of Development Finance Origination (UK & Europe) at Maslow Capital, expressed her satisfaction with the partnership, stating: “We are delighted to have supported Audley Construction Group in delivering this important scheme for Maidstone. The town has a well-documented undersupply of housing, and this development will provide much-needed homes in a highly connected, town-centre location. The sponsor’s experience, the advanced stage of construction and the strength of the underlying fundamentals made this a compelling transaction, and we look forward to seeing the scheme through to completion.”

Harish Raghvani, Director at Audley Construction Group, praised Maslow’s commitment, saying: “Maslow demonstrated genuine commitment and certainty of execution throughout the process. Their understanding of the scheme and flexibility in structuring the facility enabled us to continue progressing works on site without interruption. We are pleased to be working with a lending partner that shares our long-term vision for the project.”

David Yeadon, Executive Director and Head of Commercial Real Estate Finance at SPF Private Clients, highlighted the significance of the project: “Maidstone is a commuter town where population growth has outpaced housing delivery for over a decade, and bringing forward 172 homes in a town-centre location is a meaningful contribution to closing that gap. Schemes of this scale and complexity need a lender that can move at the pace developers require, and Maslow’s track record of funding schemes of this scale, and the certainty of execution they bring, made them a perfect fit.”