Maslow Capital, a leading real estate finance provider, has successfully finalized a £55 million development finance deal to fund the second phase of Heaton Group’s prestigious Berkeley Square development in Salford, Greater Manchester. This latest investment follows Maslow’s initial £45 million commitment for Phase One, reinforcing its ongoing support for high-quality living sector projects led by top developers.
Located on Ordsall Lane, Berkeley Square is a luxury residential development strategically positioned between Manchester city center and MediaCityUK. The project, which consists of 500 residential units in total, will see the completion of Phase Two with 250 new apartments, offering a variety of one-, two-, and three-bedroom homes.
The development will feature premium amenities such as a fully-equipped gym, co-working spaces, concierge services, and breathtaking river views. Designed by award-winning architects, Berkeley Square promotes a sense of community, with apartments centered around a beautifully landscaped communal square. An on-site Community Manager will enhance the experience, and a dedicated app will allow residents to form clubs, support local businesses, and manage their tenancies more efficiently.
Sustainability is a key focus of the scheme, with energy-efficient features such as photovoltaic (PV) panels, recycled aggregates, and low-carbon technologies incorporated throughout. Additionally, the development will provide 568 cycle parking spaces and electric vehicle charging points, supporting sustainable transport options.
Manchester remains one of the UK’s fastest-growing cities, with housing demand forecasted to require 36,000 new homes over the next decade. Salford, in particular, has experienced one of the UK’s highest house price growth rates, with a 4.9% increase over the past year—highlighting the area’s growing appeal to both residents and investors.
Completion of the entire Berkeley Square development is anticipated in 2026, reinforcing Salford and Manchester’s status as prime locations for high-quality urban living. Maslow Capital’s second phase of funding further solidifies its commitment to financing innovative, sustainable, and high-impact residential schemes across the UK.
John Heaton, Managing Director of Heaton Group, commented: “Partnering with a lender that understands our long-term vision is crucial, and Maslow Capital has been instrumental in making Berkeley Square a reality. This next phase allows us to accelerate our plans, bringing a high-quality, sustainable residential offering to one of the UK’s fastest-growing urban hubs.”
Sky Mapson, Senior Director, Development Origination at Maslow Capital, commented: “At Maslow, we place a strong emphasis on service, enabling us to build long-term relationships with clients based on experience, trust, and certainty of funding—key factors that continue to drive our clients’ growth and success. We are proud to see this strategy in action through the completion of this loan and our continued support for The Heaton Group in delivering Berkeley Square. This high-quality, amenity-led development will provide much-needed housing in a prime location, contributing to Salford’s ongoing regeneration and growth.”
Rachael Gordon, Head of Deal Execution (UK & Europe) at Maslow Capital, commented: “Salford continues to establish itself as a key growth hub within Greater Manchester, attracting both residents and investors drawn to its strong economic fundamentals and ongoing regeneration. The city’s expanding employment opportunities, coupled with a thriving rental market and increasing demand for high-quality housing, reinforce its long-term appeal.”
Simon Pilcher, Managing Director of Pilcher Capital Partners, who introduced the deal to Maslow Capital, commented: “We are delighted that our Strategic Treasury Function provided the capital origination and negotiation resource to our client, enabling the execution of this transaction, while supporting Heaton’s wider portfolio funding requirements. The successful financing of this scheme is another positive step forward for Heaton, building upon its strong foundations for the future. Maslow remain an excellent financial partner; the team provide first class transactional capability enabling certainty and speed of execution.”
