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UK: Lender Beaufort Capital has provided a senior debt facility to later living developer and operator Birchgrove to support the construction of a scheme in Chiswick, west London.
The scheme will feature 50 later living apartments, comprising 40 one-bedroom and 10 two-bedroom units, with resident amenities including a landscaped courtyard garden, restaurant, lounge and bar, and 24-hour concierge services.
The development, which will provide a range of different care and support services, will replace a former civic building. Construction is expected to start this summer, with completion in summer 2028.
Steffan Goold, director at Beaufort Capital, said: “We are pleased to support Birchgrove in delivering another high quality later living scheme in Chiswick – a location where demand for well-designed, service-led accommodation significantly outweighs supply. This transaction reflects both the strength of our relationship with the sponsor and our conviction in the long-term fundamentals underpinning the later living sector, particularly in supply-constrained urban markets.”
Honor Barratt, chief executive of Birchgrove, which is backed by Bridges Fund Management, added: “We are delighted to be bringing our next retirement living scheme to Chiswick, a vibrant and highly sought-after location where there is a clear need for high quality, flexible later living accommodation. Our model is focused on providing residents with independence, community and access to tailored support, and this scheme will play an important role in addressing the shortage of suitable downsizer housing in the area. We are delighted to continue our long-term funding partnership with Beaufort Capital, whose considered, supportive and flexible approach to financing has helped enable the progression of this scheme. We value the strength of these important strategic relationships as we continue to grow the Birchgrove platform.”
Highlights:
• Lender Beaufort Capital has provided a senior debt facility to later living developer and operator Birchgrove to support the construction of a scheme in Chiswick, west London
• The scheme will feature 50 later living apartments, comprising 40 one-bedroom and 10 two-bedroom units, with resident amenities including a landscaped courtyard garden, restaurant, lounge and bar, and 24-hour concierge services
• Construction is expected to start this summer, with completion in summer 2028
