Short-term finance specialist PMJ Capital has provided £3.2m funding to senior living specialist, Arbor Living, to fund the next phase of a retirement village, located just outside Lincoln.
The scheme, The View, is a contemporary development of detached eco bungalows for the over 55’s, set in parkland overlooking a lake, just a short walk from Burton Waters Marina, just three miles from the city of Lincoln.
The initial scheme consists of 13, 2-bedroomed bungalows and PMJ has provided funding via an 18-month peak cashflow facility of £1.75m.
Graham Richardson, Managing Director at Arbor, said: “The View is located in a highly enviable location which we know will appeal to buyers, but the eco-design is also incredibly forward thinking and an attractive proposition, providing buyers with a unique opportunity to downsize to a highly efficient, single-storey home.
“PMJ are an incredibly supportive partner. They understand what we are trying to achieve and ensure that they structure a deal that fully meets our requirements and enables success.”
David Rainford, Managing Director of PMJ Capital, added: “This is a fantastic project and we are delighted to be able to work with Arbor once again. Graham and the team have created a well-thought-out and attractive project in an enviable location catering to the over 55 market. Whilst only recently out of the ground initial buyer response is strong which is really pleasing to see.”
Construction has begun, with the first phase due for completion in Autumn this year.