IPG secures £10m loan from Maslow for The Lyceum - BTR news

Developer IPG secures a £10m development loan from Maslow Capital for The Lyceum Build to Rent scheme in Manchester.‍

Northwest based ethical property developer Integritas Property Group (IPG) secures a £10m development loan from Maslow Capital, to fund the next stage of The Lyceum, its Build to Rent scheme in Eccles, Greater Manchester.

Following the completion of groundworks and foundations, the loan will provide working capital for the next phase of the high-end development.  

“Maslow Capital is dedicated to supporting ethical, forward-thinking, and ambitious developers, and IPG fits this profile perfectly.  

“The development plan presented by IPG showcased a strong commitment to preserving the historical elements of the property in Eccles, Manchester, while simultaneously incorporating new construction and sustainable energy elements.”

Sky Mapson, Deal Origination, Maslow Capital

IPG took over The Lyceum development in 2020 after the previous developer went into administration, establishing the Lyceum Investors Group to protect investors’ interest and ensure the site’s completion as planned.  

Managing Director of IPG co-ordinated the sale of the scheme back to the investors with accountancy firm Cowgills, which replaced FRP as Administrator in February 2021. The 82 units have been purchased leasehold after they were released for investment in February 2023, with the first expected completion date set for Q1 2024. ‍

Read more here.

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