Specialist lender Pivot has completed a £4.1 million development exit facility for Torsion Care to support the stabilisation and onward sale of Royles Lodge, a recently completed retirement living scheme in Thornton-Cleveleys, Lancashire.

The facility is secured against 29 one- and two-bedroom self-contained apartments at the age-exclusive development, which forms part of the wider Marsh Mill Village, a popular residential and leisure destination near the Fylde Coast. Aimed at residents aged 55 and over, the scheme reached practical completion in 2023 and offers modern, high-specification accommodation.

The funding will enable Torsion Care to refinance its existing development debt while pursuing a dual strategy of unit sales and long-term lettings. With 12 apartments already sold and an on-site sales team in place, the developer is now marketing the remaining units through various channels.

Andreas Yianni, commercial director at Pivot, said the transaction reflected the lender’s appetite for funding completed schemes backed by experienced sponsors. “It’s a pleasure to support Torsion Care, a highly capable operator with a growing track record in the care and retirement living sector. This deal reflects our appetite to fund completed, high-quality schemes and committed sponsor. We’re proud to play a role in bringing more housing to the market that is tailored to supportive living,” he said.

Pivot positions itself as a flexible partner for transitional assets, particularly those where income stabilisation and a structured exit plan are essential. The Royles Lodge deal underlines its focus on assets that not only meet housing demand but also support long-term community wellbeing.

Torsion Care’s Martin Hutson welcomed the lender’s involvement: “We’re delighted to partner with Pivot on this transaction. Their understanding of the retirement living sector and ability to tailor a structure around both sales and lettings gives us the flexibility to maximise value at Royles Lodge. We’re also pleased to deliver another high-quality scheme that meets growing demand for independent living options for over-55s.”