Specialist real estate lender Maslow Capital has completed a £50m two-stage facility for Linear Living, covering both pre-gateway bridging finance and a follow-on development facility for a major residential scheme at Lord Street in Manchester.
The transaction supports One Lord Street, a proposed 23-storey development comprising 251 apartments and townhouses positioned at a key gateway into Manchester city centre. The scheme forms part of the Green Quarter's long-term regeneration vision and sits adjacent to the Strangeways and Cambridge Strategic Regeneration Framework area, a joint initiative between Manchester City Council and Salford City Council to guide investment and transformation across the district.
A joined-up approach from acquisition to delivery
Maslow Capital structured the facility through its multi-product offering, which allows the lender to provide bridging and development finance under a single framework. The approach reduces duplicate due diligence and legal work, streamlines documentation, and gives sponsors a clearer route from acquisition through to delivery.
Agreeing both phases before gateway approval was a deliberate structural choice, offering Linear Living cost and programme certainty at an early and often uncertain stage of the development cycle.
The deal marks the second time Maslow Capital has backed Linear Living, having previously provided £18m of financing for the borrower's Trafford Gardens development in Manchester.
What the deal means for Manchester's development pipeline
"Maslow Capital specialises in structuring finance that supports sponsors through each stage of the development cycle," said Sky Mapson, senior director of origination at Maslow Capital.
"Agreeing both phases from the outset, pre-gateway, gives sponsors a level of certainty that's hard to achieve in today's market. We're particularly pleased to be working with Linear Living again following the successful funding and delivery of Trafford Gardens, and to support the team as it advances another prominent Manchester scheme."
Rachael Gordon, head of deal execution (UK and Europe) at Maslow Capital, noted the wider context driving demand for structured development finance in the city. "Manchester continues to attract sustained demand and institutional investment, with regeneration frameworks helping to shape the next phase of city-centre growth."
"In that environment, projects benefit from funding that is aligned to deliverability and sequencing, and we are pleased to support Linear Living as it progresses plans for a landmark scheme at Lord Street."
Stephen Holmes, chief executive of Linear Living, said securing a joined-up facility was central to the project's progress. "Having bridging finance available at pre-gateway, alongside an agreed follow-on development facility once gateway approval is achieved, provides certainty and keeps the project moving forward. We valued Maslow Capital's constructive, solutions-led approach and look forward to progressing proposals that will support the Green Quarter's continued regeneration."
With Manchester's residential pipeline continuing to grow and regeneration frameworks attracting sustained institutional interest, structured bridge-to-development facilities are likely to play an increasingly prominent role in bringing complex city-centre schemes forward. Further completions of this kind are expected across the UK's major regional cities as lenders compete to offer joined-up solutions that reduce friction across the development cycle.
