Maslow partners with Homes England to unlock brownfield backlog

It is hoped the fund could pave the way for the delivery of homes on some of the 36,450 brownfield sites across the country.

Maslow Capital, which has been active in the North West residential market over recent years – funding schemes such as Heaton Group’s 500-home Berkeley Square in Salford and Legacie’s 656-home Gateway in Liverpool – has joined forced with Homes England to create the Brownfield Remediation Funding Programme.

Through the programme, aimed at SMEs, both organisations will provide funding to remove barriers to brownfield development. Interest rates will be calculated on a case-by-case basis.

The programme invites applications from developers seeking financial support for brownfield remediation projects. Loans could pay for work that often delays development or makes schemes unviable, including the demolition of derelict structures, remediation of contaminated soils, ground stabilisation, treatment of groundwater, and the stabilisation and management of ground gas.

Government data states that, as of this year, there are 36,450 brownfield sites across the UK, which could accommodate between 1.23m and 1.46m homes if fully remediated and developed.

Maslow claims the programme presents a “significant opportunity” to meet the government’s housing targets while preserving greenfield land.

Adam Baghdadi, head of lending solutions for UK & Europe at Maslow Capital, said: “This programme is a prime example of how the public and private sectors can collaborate to tackle the UK’s housing shortage, unlocking complex sites and accelerating the delivery of new homes.

“Historically, private developers have faced significant challenges in redeveloping brownfield sites due to high clean-up costs and unforeseen geotechnical issues, which can escalate project costs. Through its commitment to driving regeneration, Homes England has been instrumental in overcoming these barriers and unlocking opportunities that might otherwise remain undeveloped. Partnering with a government body enables us to deliver a structured funding solution with real impact – one that will not only accelerate the delivery of much-needed, high-quality homes, but also stimulate local economies.”

Nigel Barclay, Director of Loans at Homes England, added: “This programme is a perfect example of how we are working with the private sector to empower housebuilders and promote a more diverse and resilient housing market, while Maslow Capital’s expertise will help to accelerate brownfield regeneration and build new homes where they are needed most.”

“Small and medium-sized housebuilders are critical to delivering new homes, yet they often struggle to access the funding needed to unlock complex sites. The programme aims to address that issue and help to bring forward projects that serve as a blueprint for sustainable development by transforming underused land into new, thriving communities.”