Luxury retirement living developer Auriens has secured a £55m loan from Investec Structured Property Finance for the development of its 55-home scheme in Chelsea.
Auriens said the scheme requires a £200m investment, with Investec providing a 24-month facility.
The balance comes from equity provided by a private South African investment fund.
Simon Brooks, Investec’s structured property specialist, said: “Within the UK’s property sphere, while there is a definite need to address housing needs across the board, it is our belief that there should be as much focus placed on the top end of the market as there is currently for millennials, as only 2.8% of new property being built in the UK focuses on later living.”
The building will have integrated care and health facilities alongside amenities including a restaurant, hydrotherapy pool and private members’ club. Draycott Nursing will provide on-site care.
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