MCR Property Group, one of the UK’s most prominent independent property investment and development companies, has successfully completed refinancing of the Stockwood Gardens residential scheme in Luton, under an £11m deal.

This latest development for the leading independent property investment and development company marks a huge step forward in the Private Rental Sector (PRS) market and is the second deal with QIB UK plc. 

The refinancing pertains to Phase 2 within the Stockwood Gardens development, a 55 unit scheme of thoughtfully designed apartments, adressing the growing demand for high-quality rental properties in the area. Located in the heart of Luton, Stockwood Gardens has quickly become a sought-after address for affordable modern urban living.

The refinancing deal further demonstrates MCR Property Group’s commitment to providing exceptional residential spaces and reaffirms its strong position in the PRS sector. The company’s ability to secure quick refinancing terms is a testament to the appeal and solid performance of the Stockwood Gardens development and their wider PRS portfolio. 

Richard Musty, CEO at QIB (UK) plc states “We are pleased to have completed another financing deal with MCR Property Group. As a financial partner, QIB (UK) plc is delighted to have been part of this significant milestone. The successful refinancing showcases the robust financial performance and attractiveness of the development to investors and stakeholders.

“We remain committed to supporting MCR Property Group’s vision, creating enduring value in the real estate market. This transaction demonstrates the strength of our partnership and our shared dedication to meeting the demands of the UK’s residential market.”

David Tracey, COO of MCR Property Group added: “We are thrilled to have successfully completed the refinancing for Phase 2 at Stockwood Gardens Luton. This achievement is a testament to the hard work and dedication of our team, as well as the market’s recognition of the value and quality we bring to our PRS developments in towns such as Luton. MCR Property Group remains committed to its strategic vision of enhancing communities through innovative residential developments such as this.”