Maslow Capital has finalised a £74m ($93m) development loan to fund a significant build-to-rent (BTR) project in Basildon’s town centre, UK.
This initiative is set to play a pivotal role in the town’s extensive £600m regeneration master plan.
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Introduced by Karis Capital, a real estate debt advisor, the project will be executed by a joint venture (JV) between Orwell Real Estate and Housing Growth Partnership (HGP), which is the Lloyds Banking Group and Homes England-backed equity investor focused on the UK living sector.
The development will deliver 492 residential units, 1,218m² of shared residential amenities, and approximately 1,651m² of commercial space.
Located near Basildon’s main train station, the development will feature three interconnected mid-rise towers ranging from 12 to 17 storeys, linked by a ground-floor podium.
The scheme will offer a mix of one- and two-bedroom apartments and amenities such as five outdoor terraces, a gym, and co-working areas.
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By GlobalDataThe site’s proximity to transport links provides access to central London within 35 minutes, appealing to the commuter demographic.
The BTR scheme addresses Basildon’s housing undersupply, which is currently estimated at approximately 53%, as per the latest Five Year Housing Land Supply Update (2024-29) from Basildon Borough Council.
In line with sustainability goals, the scheme aims to achieve an energy performance certificate rating of A or B and will incorporate renewable technologies such as air-source heat pumps, highly efficient LED lighting, and an ambient loop system for heating and hot water.
The project has received a £12m equity injection from HGP and has been forward-sold to Starlight Investments, indicating its appeal to institutional investors within the UK’s robust BTR sector.
The landmark loan of £74m was secured after Karis Capital partnered with Maslow Capital, marking the fifth collaboration between Karis Capital and Orwell Real Estate since 2019.
Orwell Real Estate co-founder and MRICS director Neil Strelitz said: “We look forward to delivering this landmark scheme, which sits at the heart of Basildon’s £600m regeneration.
“By partnering closely with Maslow Capital and other key stakeholders, we have combined our extensive market knowledge and commitment to quality to bring this complex, multiphase project to life – ultimately providing much-needed homes and lasting benefits for the local community.”
