Karis Capital arranges £74 Million Loan from Maslow Capital for Orwell Real Estate and HGP’s Landmark Basildon Build-to-Rent Project

London – 19th Dec 2024

Karis Capital, specialist debt and insurance advisory firm, has successfully structured and delivered a £74 million development loan from Maslow Capital for Orwell Real Estate and Housing Growth Partnership (HGP). Karis Capital played a pivotal role in securing the funding and driving the transaction to completion, liaising closely with the client, lender, legal teams, valuers, and all associated property professionals to ensure a seamless process.

Orwell Real Estate has been a valued client of Craig Hardiman-Scott, MD of Karis Capital since 2019, with this project marking the fifth successful deal completed together. This long-standing partnership reflects the strength of Karis Capital’s commitment to building enduring relationships and delivering exceptional results. Speaking on this milestone, Karis Capital emphasised their excitement for continuing to support Orwell Real Estate as they undertake transformative developments in the UK property market.

The project, spearheaded by Orwell Real Estate and HGP, is set to transform Basildon town centre as part of the area’s £600m regeneration masterplan. The Build-to-Rent (BTR) scheme will deliver 492 residential units, 1,218 sq m of shared residential amenities, and 1,651.7 sq m of commercial space. Strategically located near Basildon’s main train station, the development will feature three mid-rise towers, ranging from 12 to 17 storeys, connected by a ground-floor podium. Amenities include five outdoor terraces, a gym, and co-working spaces, making it an attractive housing option for professionals commuting to London in just 35 minutes.

The scheme responds to Basildon’s critical housing undersupply, estimated at 53% in the Basildon Borough Council’s latest Five Year Housing Land Supply Update (2024–2029). In addition to addressing housing needs, the development prioritises sustainability, targeting an EPC rating of A or B and incorporating Air Source Heat Pumps, LED lighting, and an ambient loop system for heating and hot water.

The project has already been forward-sold to Starlight Investments, showcasing its appeal to institutional investors in the UK’s thriving Build-to-Rent sector.

Craig Scott, Managing Director at Karis Capital, commented:
“Delivering the funding for this landmark scheme highlights Karis Capital’s dedication to building long-term partnerships and supporting transformative developments. Our relationship with Orwell Real Estate spans five successful projects, and we are proud to once again deliver bespoke funding for their ambitious vision. By introducing Maslow Capital as the funding partner and providing ongoing advisory services, we’ve ensured the successful delivery of this project, which will address Basildon’s housing needs while setting a new standard for urban regeneration.”

Emma Burke, Head of Origination at Maslow Capital, added:
“We’re proud to support this transformative project and applaud Karis Capital’s dedication to driving it forward. This scheme aligns perfectly with our focus on forward-thinking, sustainable developments that respond to the needs of modern housing markets.”

Neil Strelitz MRICS, Co-founder of Orwell Real Estate, said:
“Our long-standing partnership with Karis Capital has been instrumental in enabling us to deliver ambitious projects like this. Their expertise and continued involvement ensured the successful structuring and execution of the funding for this complex development. This project represents a significant step in Basildon’s regeneration, and we look forward to continuing our collaboration on future ventures.”

About Karis Capital

Karis Capital is a leading debt and insurance advisory firm based in the City of London. Specialising in bespoke financing solutions for development, investment, and short-term real estate finance, Karis Capital supports clients with tailored advice and end-to-end transaction management. Their expert team leverages long-standing relationships across the real estate ecosystem to deliver seamless and successful outcomes.