SAVILLS PLC

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Savills : advised Get Living on £155m funding deal for major development in Maidenhead town centre

10/22/2021 | 06:34am

The deal is developer HUB's ninth forward funding agreement and its largest to date. It is also HUB's first deal with Get Living and the first time Get Living has backed a development outside of the UK's major cities.

The deal enables the partners to deliver 429 homes and 23,000 sq ft of ground floor retail, as well as car parking and extensive new public realm on a prominent 3.5-acre site in Maidenhead town centre. Construction will start on site immediately.

Designed by award-winning architect Studio Egret West, the mixed-use development, known as The Landing, will also deliver 104,000 sq ft of office space and another 15,000 sq ft of ground floor retail and leisure space in two further phases. A new Garden Square including soft landscaping, trees and seating areas will create a green destination in the heart of the town.

The Landing site - a key part of Maidenhead's wider regeneration - is also adjacent to Maidenhead station, where Elizabeth Line trains will arrive in 2022, and will provide a much-needed link between the refurbished station and the town centre.

Research carried out by Savills identifies Maidenhead as an attractive location for build-to-rent investment because the town is underpinned by strong population and economic growth with high levels of employment in sectors that are forecast to grow significantly over the next decade.

Andrew Brentnall, Head of UK Residential Investment & Development at Savills commented: "We are delighted to have supported Get Living in their latest acquisition, which represents yet more evidence of the significant liquidity in this ever growing sector".

Rick de Blaby, CEO of Get Living commented: "This is a momentous deal for Get Living, being our seventh neighbourhood of large scale, but this time in a regional town rather than London or one of the UK's large cities. In HUB, we have one of the UK's most professional, innovative and enterprising developers whose vision for The Landing can now be realised. It is our responsibility, as long-term owners and custodians, to ensure we provide a place for people not just to call home and put down roots, but to create the stage for community to build and thrive, just as HUB's team and the Council have envisioned."

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Savills plc published this content on 22 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 10:33:03 UTC.

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