Silbury Finance provided a £64.3 million loan to support the development of a 124-residence luxury retirement scheme in How Wood, St Albans, being delivered by Elysian Residences.

The deal, which finances a joint venture established by Elysian Residences and Senior Living Investment Partners, itself a partnership between Pension Insurance Corporation and Octopus Real Estate, will kick-start work to build 80 apartments and 44 two-bedroom bungalows, in addition to a restaurant, cafe and library. A wellbeing and therapy centre, cinema, village green and orchard gardens are also included in the plans