Trowers & Hamlins advised SLIP and Audley Group on the £66.5 million financing behind the acquisition and development of a 112-residence luxury retirement community at Headley Court, near Leatherhead.
The scheme represents the continued investment by SLIP (Senior Living Investment Partners, a joint venture company comprising of Pension Insurance Corporation plc and Octopus Real Estate) and Audley Group into retirement living. The financing is provided by Silbury Finance, in continuance of their trend of financing similar retirement living schemes.
The 23-acre site is less than two miles from the commuter 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.
Due to complete in 2027, the development is set to have high ESG credentials, with a BREEAM rating of ‘very good’ or above.
Eddie O'Hanrahan, Partner in the Banking and Finance team at Trowers, commented:
"In the UK, we are continuing to see an ever-increasing demand for high quality retirement living accommodation. Our work here for SLIP and Audley Group is just the latest example of where Trowers has helped clients secure key investment in this burgeoning sector and we are proud to have been involved in the financing behind what will be a state of the art complex at Headley Court."
Domas Karsokas, Investment Director at Octopus Real Estate, added:
“We’d like to thank Trowers & Hamlins for their diligent and professional support throughout this process.This will be a fantastic retirement community in a prime location, and their efforts have played a key role in moving its development forward.”
Eddie O'Hanrahan led the team with assistance from Jon Grosvenor, Samer Almaz, Isobel Moorhouse and Emilia Smart on banking elements. Specialist corporate advice was provided by Tim Nye, William Barakat and Danial Butt, construction by James Huckstep with assistance from Amy Bentall, real estate by Lizzie Pillinger with support from Shivana Sood and Matteo Silva and Marisia Robson provided input on planning aspects.
