Heaton Group has secured a £45.1m development finance package from Maslow Capital to deliver a 250-unit luxury residential block in Salford, Greater Manchester.
The Berkeley Square development, which is located between Manchester city centre and MediaCity, will comprise a mix of one-, two-, and 3-bedroom apartments.
The scheme will feature rooftop gardens, co-working spaces, an on-site café and concierge services. Completion of the project is expected in 2026.
John Heaton, managing director of Heaton Group, said: “Heaton Group specialise in urban place making, improving the public realm and enabling sustainable community living at scale. We are delighted to be working with Maslow at Berkeley Square which forms part of our existing living sector pipeline. For us, Maslow has a proven track record of financing complex transactions, particularly in the north of England, making them an ideal partner for this project.
“With financing secured, Berkeley Square is set to become a landmark development, offering high-quality living spaces that cater to the needs of Salford’s residents. The project will blend the convenience of city living with the benefits of green space to foster a strong community among residents.”
Sky Mapson, senior director of development origination at Maslow Capital, added: “Berkeley Square represents a fantastic opportunity to contribute to the thriving residential market in Salford. Maslow Capital has a long history of successfully backing high-quality developments, and Heaton Group’s professionalism and experience give us great confidence in the project’s success. We are proud to be part of this significant addition to Greater Manchester’s housing landscape.”
Rachael Gordon, head of deal execution (UK and Europe) at Maslow Capital, said: “Our team worked seamlessly with Heaton Group to ensure this project will provide high-quality housing that meets the growing needs of the area. We are confident that this development will stand out in the market and make a positive impact on the community.”
Simon Pilcher, CEO of Pilcher Capital Partners, added: “We’re delighted to have assisted both Heaton and Maslow in what was a complex and challenging development deal. This transaction forms part of a substantial pipeline of projects within the living sector, in which Pilcher’s strive to provide granular sector understanding, married to best-in-class deal execution. We look forward to continuing working with both Heaton and Maslow going forward.”
