£3.2m boost for retirement village scheme

Short term finance firm PMJ Capital has provided £3.2m in funding to luxury senior living company, Arbor Living, to fund the next phase of a retirement village, located just outside Lincoln.

The scheme, The View, is a development of detached eco bungalows for the over 55s.

The initial scheme consists of 13, two-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.

“We have worked with Dave [Rainford] and the team at PMJ for a number of years now. They were instrumental in enabling us to develop Willowpool, which has been incredibly successful and we are hoping for similar success with The View.”

David Rainford managing director of PMJ Capital added: “This is a fantastic project and we are delighted to be able to work 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.