UTB provides £18.2m funding for substantial Senior Living development

UTB provides £18.2m funding for substantial Senior Living development

United Trust Bank (UTB) has agreed to fund a Senior Living development in the East of England.

The development of 99 independent living (retirement) apartments comprises 37 affordable rented and 62 apartments for sale, with options for shared ownership, and a central community ‘hub’. The finished property will provide communal facilities including a bistro/dining area, gym, library, hair & beauty facilities, IT suite and extensive gardens.  It will also provide onsite support (care) facilities which will support the promotion of independence, health, well-being and social inclusion.

The £18.2m funding from United Trust Bank is in addition to grants from the Essex County Council, Homes England and a charitable foundation.  The construction of the village will support a local charity providing housing for their local community which is fit for purpose for the twenty first century.

Borrower
  • Owner-Operator of Senior Living Accommodation
Amount
  • £18.2m
Loan Type
  • Development Finance
Location
  • East of England
LTC
  • 70%
Project type
  • Development of 99 independent living apartments
 Special Features
  • New to Bank
  • Largest Senior Living facility in the area
  • Public sector grant funding


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