Shawbrook finance construction at former Slough Council Block
Slough Borough Council’s former high street contact centre is undergoing a £26m transformation after property developer Kings Oak Capital secured support from Shawbrook Bank.
Landmark Place, which used to house the council’s MyCouncil customer drop-in centre, is being redeveloped into 89 apartments with work due to complete by the end of 2022. A mix of studio, one-bed and two-bed flats will be listed from £260,000.
The central former office building has a host of high street retailers and restaurants on its doorstep, with Queensmere Observatory shopping centre and Slough railway station less than 10 minutes away on foot. The four-storey development will provide residents with car parking spaces, cycle lock-ups and extra storage space, while the ground floor will also include new retail space.
Kings Oak Capital turned to Shawbrook Bank to help finance the project, securing a £26m finance package to help buy and redevelop the building.
It’s the developer’s largest project to date. The firm, run by brothers Deepak and Sumeet Khullar, specialises in the conversion of former office spaces and recently completed a 73-apartment scheme in Harrow, and a 40-unit project in Staines.
Deepak Khullar, director at Kings Oak Capital, said: “Landmark Place has a bright future as a hub for town-centre living. Great shopping and dining options add to the location’s excellent connectivity by road and rail into central London and across the M4 corridor.
“The project allows us to build on the success of our past redevelopments in the South East, which Shawbrook Bank recognised. Andrew and the team have been excellent partners from the start, and both the support and the funding from Shawbrook will help take this project, which isn’t without complexity, through to completion.”
Andrew Sears, relationship director at Shawbrook Bank, said: “Kings Oak Capital’s new apartments will offer a great base for professionals working for the many major employers that call Berkshire home.
“The Slough Central scheme to regenerate the town centre will soon bolster what’s already a strong set of amenities for residents, while the Elizabeth Line will also be coming into service soon.
“Such great potential for the scheme, and the developer’s 15-year track-record, made this an attractive project to back.”
