Maslow Capital has provided a £74m development loan for a build-to-rent project in Basildon town centre.
The loan was introduced by real estate debt adviser Karis Capital, facilitating a joint venture between Orwell Real Estate and Housing Growth Partnership (HGP).
The project includes 492 residential units, 1,218 square metres (sqm) of residential amenities, and 1,651.7 sqm of commercial space, supporting Basildon’s £600m regeneration plan.
Located near the main train station, the development comprises three interconnected towers of 12 to 17 storeys.
The project offers apartments with amenities including five outdoor terraces, a gym, and co-working areas.
This scheme addressed Basildon’s estimated 53% housing undersupply, found in the Basildon Borough Council’s 5-Year Housing Land Supply Update (2024–2029), and aimed for an EPC rating of A or B with renewable technology like air source heat pumps and LED lighting.
With £12m equity from HGP, Starlight Investments forward-sold the project, appealing to institutional investors in the UK’s build-to-rent sector.
This was the fifth project for Karis Capital with Orwell Real Estate since 2019.
Craig Scott, managing director at Karis Capital, said: “Facilitating the capital for a landmark project like this exemplifies Karis Capital’s commitment to supporting high-impact developments brought forward by experienced sponsors and backed by a funding partner with a leading reputation.
“We’re proud to support this transformative project, fully confident that it will address Basildon’s urgent housing needs while setting a strong precedent for future regeneration efforts.”
Emma Burke, head of origination at Maslow Capital, said: “We are delighted to support this bold vision for Basildon’s regeneration, marking another milestone in Maslow Capital’s dedication to forward-thinking, sustainable developments.
“This is an exciting opportunity in a thriving build-to-rent market, and we are proud to collaborate with like-minded partners who share our vision for the UK and Europe’s housing supply.”
Neil Strelitz, co-founder of Orwell Real Estate, said: “We look forward to delivering this landmark scheme, which sits at the heart of Basildon’s £600m regeneration.
“By partnering closely with Maslow Capital and other key stakeholders, we have combined our extensive market knowledge and commitment to quality to bring this complex, multi-phase project to life—ultimately providing much-needed homes and lasting benefits for the local community.”
James Hutchinson, investment director at Housing Growth Partnership, said: “At HGP, we believe in backing ambitious projects that not only address local housing shortages but also enhance the quality of life for residents.
“By partnering with Orwell Real Estate, we are supporting a transformational build-to-rent development that accelerates Basildon’s town centre regeneration story.”
