Maslow Capital funds €42m Maidstone resi development

Maslow Capital has extended a £36 mln (€42.2 mln) senior development loan to Audley Construction Group to finance a residential project in central Maidstone, Kent.

Maidstone - Maslow Capital

This facility will enable the completion of a mixed-tenure development featuring 172 apartments across two adjacent buildings of 11 and 12 storeys. The scheme will also include 680 m2 of ground-floor commercial space and 49 parking spots.

Audley Construction Group, a family-run business with a strong presence in London and the South East, is already well into the construction phase, with the superstructure significantly advanced.

This development is strategically important for Maidstone, which faces a substantial housing shortage exacerbated by a population increase of 13.3% between 2011 and 2021—twice the national average. With only 393 other homes planned nearby, this project aims to help alleviate the town's ongoing housing deficit.

Emma Burke, MD, head of Development Finance Origination (UK & Europe) said: "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, commented: "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."

David Yeadon, executive director, head of Commercial Real Estate Finance at SPF Private Clients, added: "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.”