Maslow provides loan for One Port Street BTR in Manchester

Maslow Capital provides a loan to Select Property to bring forward its One Port Street Build to Rent development in Manchester.

Select Property's One Port Street Build to Rent development in Manchester, which has received a loan from Maslow Capital | BTR News
Select Property's One Port Street Build to Rent development in Manchester, which has received a loan from Maslow Capital.

Development finance firm Maslow Capital has provided a £128.5m loan to property developer, operator and investment specialist Select Property.

The facility will be used to bring forward Select Property’s landmark One Port Street Build to Rent scheme in the heart of Manchester’s vibrant Northern Quarter, which is set to reach completion in 2025.

One Port Street will deliver 477 Build to Rent apartments and is the first scheme under Select Property’s new flagship brand – the Prestige Collection – which aims to redefine city centre living. Select Property launched the scheme earlier this year.

One Port Street’s grand lobby will be reminiscent of a hotel, centred around a 360° firepit with concierge service. The scheme will also include a 2,000 sq ft leisure suite featuring a private swimming pool and spa pool, gym and separate fitness studio.

Residents can also enjoy a 7th floor rooftop terrace and resident lounge overlooking the city.

“One Port Street is an excellent addition to Select Property’s impressive portfolio that sets new benchmarks in residential living. This ambitious project reflects Maslow Capital’s unwavering commitment to the UK’s housing sector and to supporting large-scale projects that are critical in addressing the nation’s housing shortage.”

Matt Pigram, Senior Partner, Maslow Capital

Significant planting at the One Port Street Build to Rent development will create over 22,000 sq ft of public green space, helping to integrate communities and to create a better connection between the Northern Quarter, Ancoats and Piccadilly.

The inclusion of cycle storage and EV charging points will promote greener travel amongst residents living at the development.

“Significant appetite from investors and funders alike is testament to the strength of the opportunity promised by One Port Street, and to our team’s track record of developing and operating successful residences in Manchester. The residence will deliver the very best of city centre living, with luxury amenities and a stunning contemporary design throughout the apartments and communal spaces. With Maslow Capital at our side once again, One Port Street will bring forward a new neighbourhood that will connect the Northern Quarter with Ancoats – two of the UK’s most thriving places to live – and will deliver a lasting multi-million-pound boost to the city’s economy.”

Adam Price, CEO, Select Property

The deal also marks the second occasion Maslow Capital has supported Select Property, having previously funded the development of CitySuites II.