Grosvenor's UK lending business has provided a £12 million loan to a joint venture between Housing Growth Partnership and and Villafont Concierge, part of McGoff Group, to support the sale of 50 newly completed retirement homes at Herne Bay Gardens in Kent.

The transaction reflects Grosvenor's continued conviction in residential sectors supported by long-term demographic trends and increasing demand for specialist housing. As the UK's population ages, demand for later-living accommodation continues to grow, while delivery of age-appropriate housing remains significantly below estimated requirements.

Herne Bay Gardens is a purpose-built later-living community for residents aged 60 and over, comprising apartments and bungalows designed to support independent living. Residents have access to a range of shared amenities and services including a communal orangery, guest suite for visiting friends and family and integrated support services.

Located in an area with a strong retirement demographic, the scheme forms part of a wider c.9 acre senior living community, including a care home. It has been designed to help older residents downsize while remaining close to family, healthcare services and local amenities.

Delivered by Villafont Concierge, part of the McGoff Group, an experienced later-living provider, the homes have been designed with sustainability in mind, including EPC B ratings, air source heat pumps and EV charging infrastructure.

Steph Ball, Executive Director, Investment at Grosvenor Property UK, said:

"Herne Bay Gardens is a well-conceived scheme addressing a clear and growing need, which is backed by experienced partners and underpinned by long-term demographic trends.

“As demand for later-living housing continues to grow, developments such as Herne Bay Gardens can help broaden housing choice, support independent living and respond to evolving needs across the UK’s housing market. We believe sectors supported by structural trends rather than short-term market cycles will continue to offer attractive opportunities for both borrowers and lenders, and later living is a good example of this.”

Chris McGoff, Director at the McGoff Group, added: 

“Herne Bay Gardens is our first retirement scheme in the south and has been exceptionally well received by purchasers with properties reserving quickly and a new community forming on site as residents move into their new homes. 

“With demand increasing for aspirational developments that meet the discerning needs of those in this later stage of life, we have a number of similar schemes also coming forward that are set to be just as popular.”

Launched in 2022, Grosvenor's UK lending business provides financing across the real estate lifecycle, with a focus on projects that improve the quality, sustainability and long-term performance of the built environment. Lending from its own balance sheet, Grosvenor combines long-term capital with extensive in-house real estate expertise to support development, refurbishment and repositioning opportunities across the UK.

Over the next six years, Grosvenor aims to deploy approximately £1 billion through its UK lending business, supporting projects that deliver strong commercial returns, increase housing and office supply, and contribute to the decarbonisation of the built environment.

The terms of the loan are not disclosed.

ENDS

About Grosvenor Property UK

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Grosvenor is an international organisation whose activities span urban property, food and agtech, rural estate management, and support for philanthropic initiatives. With a 340-year track record, we are committed to delivering lasting commercial, social, and environmental benefits, meeting today's needs while taking responsibility for those of future generations.

Our UK property business supports around 1,000 businesses and thousands of residents and workers across London's West End, while also investing in sustainable neighbourhoods across England. As a company aligned with the 1.5°C climate target, we pioneer change and innovation in urban development, ensuring our places benefit both people and the planet in the long term.

About Villafont Concierge

Villafont Concierge is part of the McGoff Group, a £150m collection of like-minded construction businesses based in Altrincham, Manchester and focused predominantly on the delivery of new build developments in the healthcare, residential and commercial sectors.

Driven by second generation family values, innovation, excellence and operational expertise, the McGoff Group has a seamless ability to acquire, design, build, operate and maintain making it the favoured choice for clients, funders, joint venture partners and supply chain partners alike.  For further information, please visit www.mcgoffgroup.com.