Adlington Retirement Living has secured a £75 million development facility from NatWest Group and Homes England to accelerate its pipeline of integrated retirement communities across England.

NatWest is providing the senior debt and Homes England the mezzanine tranche.

Adlington Retirement Living aims to provide 700 new homes over the next three years, with two more retirement communities due to complete in the next nine months at Wylde Green in Sutton Coldfield and Newcastle-under-Lyme in Staffordshire, adding to the 17 IRCs already delivered by Adlington Retirement Living. Further land has been acquired in Timperley in Greater Manchester, Ampthill in Bedfordshire and Leicester, with a pipeline of other projects planned.

Adlington Retirement Living’s chief executive Dr Ed Gladman said: “This funding represents government backing of both Adlington and the wider sector. Our relationship with NatWest spans over 35 years so to be able to evolve our partnership with them on a deal like this is fantastic. Their continued support, along with Homes England’s engagement will facilitate our progress towards addressing the urgent need for suitable housing for our ageing population.

“Integrated retirement communities offer the elderly a way to retain their independence for as long as possible, choosing where they want to live with the safety net of care options being readily available if they are needed in the future. They also keep older people engaged with wider society which is key to tackling loneliness and isolation in later years.”

Andy Clarke, relationship director, real estate finance at NatWest Group said: “It remains an exciting time for Adlington as they move forward with a series of projects which we are delighted to be supporting alongside Homes England. Adlington continues to provide fantastic facilities alongside the right social environment for their residents to support their needs. We are proud of our long-standing relationship which stretches back over 35 years. At this exciting time for the company, we are delighted to be supporting their ambitious plans and significant growth aspirations as they move forward with their plans”.

Nigel Barclay director of loan origination at Homes England commented: “We are pleased to have been able to structure this new facility alongside NatWest. This will accelerate the delivery of much needed homes in the sector and support the continued growth of Adlington.

Adlington Retirement living was advised by Myerson Solicitors, and Addleshaw Goddard and Eversheds Sutherland acted on behalf of NatWest Group and Homes England respectively.