Key takeaways
29
prime residential apartments
£16.5
million senior debt finance secured by our team from RBS
Level 4
accreditation of the Code for Sustainable Homes
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Successfully transformed the existing site into a prime residential scheme, generating sufficient profits to fund the new temple and repay community loans.
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Achieved full off-plan sales for all 25 luxury apartments, effectively de-risking the end sales process for the charity and increasing property price in the area.
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Delivered a cutting-edge design that not only enhances the community with sustainable living spaces but also meets Level 4 Code for Sustainable Homes accreditation.
Several years ago, the Shree Swaminarayan Mandir charity realised its current site was too small to accomplish its vision of a new temple alongside sports and community facilities. While it sought to acquire a site in Kingsbury, generating funds via community donations and debt finance, the charity calculated that the cost to develop out the new facility would place a heavy financial burden on it for years to come.
The trustees of the charity came up with an innovative solution to team up with a development partner to help optimise the value of the existing site rather than simply sell it to a residential developer.
Collaborating with Mace’s development arm, our expertise provided the peace of mind and security for the charity to successfully deliver the redevelopment of its existing site into a prime residential scheme. This has meant the profits generated will be more than sufficient to repay the community loans and debt finance accrued and realise the charity's dream of a new temple.
