Silbury Finance, the Oaktree Capital Management-backed development lender, has provided a joint venture vehicle (“JV”) established by Audley Group and Senior Living Investment Partners, the partnership between Pension Insurance Corporation plc (“PIC”) and Octopus Real Estate, a leading specialist real estate lender and investor, with a £66.5 million loan. The 53-month senior facility will 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 picturesque 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 will have high ESG credentials, with a BREEAM rating of Very Good or above. The site masterplan includes the restoration of the property’s landscaped gardens, which will be open to the public.

The transaction is the fifth between Silbury and Octopus Real Estate in the retirement sector, one of Silbury’ s high conviction sectors where demand is being driven by an ageing population.