Sunday, July 14, 2024
HomeConstructionHeaton Group secures £45m finance from Maslow Capital

Heaton Group secures £45m finance from Maslow Capital

Property News – Family run Heaton Group have secured a £45.1m development finance package from Maslow Capital to move forward the firms construction of a luxury residential block in Salford.

The company is a multi-generational business spanning 50 years of experience and having built over 1600 homes with recent landmark developments including Wigans tallest building, The Exchange Preston, completed in 2023 and Urban Green an award winning development in Manchester, overlooking Seymour Park, which was completed in January 2024.

Heaton Group is currently developing the Salford Keys & Manchester city centre Berkeley Square site, on Ordsall Lane, Salford which comprises 500 luxury apartments, which the £45.1m finance from Maslow Capital will help move forward some 50% of the site in phase 1, with a completion date expected in 2026.

Heaton Group's £45.1m finance from Maslow Capital
Berkeley Square Development from Heaton Group

The phase 1 block will include one, two and three-bedroom apartments and aiming for an EPC rating of B which it hopes to secure via PV panels on the roof for solar energy capture, the use recycled aggregates within the construction itself and additional uses of low or zero-carbon technologies.

Following the lead set by developments in the Capital and to boost and encourage sustainable transport, the Berkeley Square project will include 568 bike parking spaces and electric vehicle charging points.

The apartments will reside in two blocks of up to nine storeys in height and the development was designed by architect Fletcher Rae.

John Heaton, managing director of Heaton Group, said: “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.”

Heaton Group are a full service property developer known for delivering premium developments whom can manage the whole development process from acquiring land and obtaining planning to undertaking the construction to marketing, selling and/or letting the developments.

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