This funding will be used to support the stabilisation and sale of the completed scheme at Royles Lodge, a purpose-build retirement development for those aged over 55.

Royles Lodge, with a mix of one and two-bedroom self-contained apartments, sits inside the wider Marsh Mill Village.

It reached practical completion in 2023, and this funding now enables Torsion Care to refinance its original development facility.

Twelve units have already been sold to date, with a dedicated on-site sales team now in place.

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“It’s a pleasure to support Torsion Care, a highly capable operator with a growing track record in the care and retirement living sector,” said Andreas Yianni, commercial director at Pivot.

“This deal reflects our appetite to fund completed, high-quality schemes and committed sponsor.

“We’re proud to play a role in bringing more housing to the market that is tailored to supportive living.”

Martin Hutson, managing director at Torsion Care, added: “We’re delighted to partner with Pivot on this transaction.

“Their understanding of the retirement living sector and ability to tailor a structure around both sales and lettings gives us the flexibility to maximise value at Royles Lodge.”