Silbury Finance has provided a joint venture, established by Audley Group and Senior Living Investment Partners, with a £66.5m loan to fund the acquisition and development of a 112-residence luxury Audley retirement scheme in Surrey.
Known as Headley Court, the 23 acre site is less than two miles from the town of Leatherhead. The scheme will comprise 12 two-bedroom apartments within a redeveloped Grade II-listed historic mansion house, along with 100 newly constructed apartments and houses.
Gavin Eustace, CEO of Silbury Finance, said: “We continue to further our exposure to the nascent but high growth retirement living sector, focusing on sustainable schemes in areas with supportive local demographics, alongside our institutional partners, having now provided Octopus with c. £270m, and Audley £175m, of senior finance. Despite the wider market uncertainty, the UK Living sector’s fundamentals remain highly compelling. Our track record and knowledge, coupled with the backing of a global investor with a strong real estate conviction, provides a differentiated platform as we look to accelerate our deployment in 2024, including writing larger ticket loans, whilst remaining highly disciplined in our underwriting.”
Features will include a restaurant, owners’ lounge, inside and outside terrace seating areas, as well as back of house and operational office space housed within the mansion house. Property owners will also benefit from the Audley Club; state-of-the-art wellness facilities including a pool, sauna and steam room, gym, fitness studio and changing rooms.
Nick Sanderson, founder and Chief Executive at Audley Group, said: “The demand for retirement villages is only growing. Octopus and PIC have recognised the opportunity in the retirement space, and we’re delighted to be progressing this new market-leading integrated retirement community alongside SLIP and Silbury.”
Due to complete in 2027, the site masterplan includes the restoration of the property’s landscaped gardens, which will be open to the public.
