Real estate development finance provider Maslow Capital has announced the completion of a £7.3 million loan to support the Castlemore Homes project in the Village of Haddenham, Cambridgeshire.
Funding from this latest development will be used to deliver 33 affordable homes that will be presold to a housing association.
Most of the homes will qualify for the Help to Buy scheme which helps people in England to purchase a new-build property.
James Henry, deal originator at Maslow Capital, explains: “We are delighted to partner with Castlemore Homes with the delivery of this project. The level of progress that has already been made on site is a testament to their excellent team who have impressed us at every stage. This project strikes a perfect balance by providing sustainable, very high-quality housing that is affordable to the local demographic and we are excited to see this project come forward to completion.”
What to expect from the Cambridgeshire project
The developers aim to make these homes not only visually pleasing but also sustainable. Castlemore Homes is committed to making all their housing developments reach net zero by 2025.
By putting sustainability measures in place and using materials that are not harmful to the environment, the leading UK housebuilder hopes to help residents contribute to a sustainable lifestyle.
Sustainably certified timber and harvesting rainwater will be used on the properties. Each home will be fitted with air-source heat pumps, low-energy lighting or downlights, passive windows, integrated solar PV panels, and energy management systems.
Nigel Strudwick, land director Castlemore Homes, explains: “We are pleased to have partnered with Maslow Capital on the funding of our 33-unit scheme in the village of Haddenham, Cambridge. The transaction was straight forward, which is testament to James Henry and team who have been excellent through the whole process. We look forward to building our business relationship with Maslow Capital on our future projects.”
Graham Chaston, chief executive officer at Empire Capital Solutions (Debt Advisory & Brokerage), adds: “We immediately recognised the significant ESG potential on this scheme and indeed additional schemes. This element with the high calibre team put together by Castlemore made what is effectively their first scheme a competitive placement with some top tier development funders. Congratulations to Maslow for providing the most flexible structure and solutions together with very sharp pricing.”
