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Headley Court redevelopment financing secured

20 Dec 2023Announcements

Withers facilitates £66.5m financing for Headley Court redevelopment joint venture with Silbury Finance

International law firm Withers has assisted Silbury Finance in securing a £66.5 million facility for a joint venture aimed at acquiring and revitalizing Surrey's Headley Court.

The joint venture involves Audley Group and Senior Living Investment Partners, a collaboration between Pensions Insurance Corporation and Octopus Real Estate.

This 53-month facility will aid in acquiring and developing the Grade II listed Headley Court, spanning 23 acres. Plans include creating 12 two-bedroom apartments within the historic structure and constructing 100 new houses and apartments, with completion anticipated by 2027.

Jon Bond, part of Withers' debt financing team, expressed delight in supporting Silbury's involvement in the thriving retirement living sector. Silbury's track record and this transaction, surpassing £0.75bn lent in under three years, are commendable milestones.

Gavin Eustace, CEO of Silbury Finance, acknowledged Withers' crucial role in the deal. Withers' expertise in this asset class was pivotal in realizing the project's success, with plans to continue collaborating in future ventures.

Jon, alongside senior associate Isobel Young-Herries, led the Withers team, having joined the firm in August 2023.

Legal News desk contact: editorial@solicitorsjournal.com

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