Hampshire Trust Bank has completed a £13.3 million facility to support the refinance and staged disposal of homes at an established over-55s housing development in the South of England.
The funding enables the borrower, a UK institutional investor, to refinance 59 remaining units at the integrated retirement community while continuing unit-by-unit sales to private buyers.
The scheme comprises a mix of bungalows, apartments and townhouses, set within landscaped grounds and featuring amenities such as a restaurant, café, cinema and communal gardens.
Targeted at downsizers and older residents seeking independent living in a semi-rural location, the development has a strong sales history and high occupancy levels. Hampshire Trust Bank said the structured facility offers funding certainty and aligns with the borrower’s longer-term strategy for phased exit.
Completion of the deal took just four weeks from offer, attributed to the clarity of the borrower’s disposal plan and the collaborative approach to execution.
The transaction was led by lending director Tim Mycock and Beth Rungay from HTB’s development finance team, with credit and CQA support, and was introduced by Adam Brews, head of capital advisory at Vandermolen Real Estate.
Brews said: “It’s a great example of what can be achieved when experience, trust and teamwork come together. Deals like this don’t happen by accident; they require conviction, collaboration and sharp execution. We’re thrilled with the outcome.”
Mycock (pictured) added: “The transaction required a structured approach and confidence in the borrower’s sales strategy. With an existing relationship in place and a clear understanding of the asset, we were able to move efficiently and deliver a facility that supported the next stage.”
Neil Leitch, managing director of development finance at HTB, said the transaction reflected a growing demand for specialist funding solutions in the later-living sector.
“This was a good example of the kind of structured, real-world funding we are increasingly being asked to provide,” he said.
“Supporting unit-by-unit disposals within a mature retirement living scheme takes more than just underwriting the asset. It requires a deep understanding of layered ownership, varied sales trajectories and borrower strategy.”
He added that lenders must take a pragmatic view of the sector as demand continues to rise: “As demand for later-living schemes continues to grow, lenders need to provide pragmatic, well-structured funding that supports both long-term investment plans and the practical realities of these communities.”
HTB is also understood to be working with the same borrower on a further facility for a residential scheme in central London.
