The Elevation Credit Partners III senior housing credit fund has extended senior development financing to Halebourne Group and Connaught Care for construction of the scheme.

Loans from this fund can be between £10m and £100m, with LTVs of up to 80%. development LTCs of up to 85% and terms of 2-5 years.

The new home will include premium amenities such as an onsite bistro, private dining room, lounges, cinema and a hairdressers.

This has been designed to accommodate air source heat pumps, PV solar panels, EV charging spaces and water-efficient fixtures and fittings.

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Once completed the home is targeting an EPC rating of A and a BREEAM New Construction rating of Excellent.

“We are excited to continue our strong relationship with Halebourne and Connaught, expanding into credit alongside the existing relationship with our specialist private open-ended healthcare REIT,” said Zach Smith, investment director at Elevation.

“Supporting Halebourne and Connaught’s growth aligns with our ambitions to work with best-in-class operators and developers to rapidly scale their business plans, so that we can continue to support the delivery of vital, needs-based, senior housing.”