Member Article

Maslow Capital provide Legacie Developments with a second major financing deal

Specialist real estate development finance provider Maslow Capital is deploying £20m of funding into Legacie Developments’ brand-new project in the North West. The new £20m facility follows Maslow’s previous financing package of £22m which supported Legacie’s Parliament Square development in Liverpool in February 2020.

Today’s completion will fund the construction of Merchant’s Wharf, an exciting residential and commercial development in Salford Quays. This new project is located beside the River Irwell in Salford. Situated just 850m to Manchester city, this stylish new scheme will bring over 196 waterfront apartments, commercial space and an onsite gym to a newly established neighbourhood.

Legacie has emerged as one of the North West’s most prominent developers in recent years, having delivered a number of residential and commercial developments. The company’s work has primarily focused on Liverpool with schemes including Renshaw Street’s Ropemaker Place, Water Street’s Reliance House and the flagship £90m Parliament Square in the Baltic Triangle. Adding to their existing portfolio, the business established by the former Liverpool John Moores university graduate, John Morley, recently announced new ambitious plans for a development in Luton.

Maslow Capital have a well-established reputation in the North-West, having funded the development of 2,828 residential units in the region to date. With the completion of this deal, Maslow continues with its mission to deliver much needed housing across the UK.

John Morley, managing director and founder of Legacie Developments, said:

“Having the support of the institutionally backed Maslow Capital, is a significant vote of confidence in our work and a huge boost for our future plans. We utilise a proven and successful off plan sales model and today’s completion demonstrates the effectiveness of this approach when developing residential schemes.

We are delighted to be partnering with Maslow Capital again on what will be our first major development in Manchester.“

Ellis Sher, Co-founder & CEO of Maslow Capital, said:

“This is another fantastic partnership with Legacie Developments who we have supported across two large scale transactions to date. We are delighted to continue this partnership with the funding of Merchant’s Wharf which is being constructed with both the end-user and investor in mind.”

This was posted in Bdaily's Members' News section by Matthew Richardson .