Financial backing in the form of a seven figure sum will secure more new retirement homes for the over 65’s at Lime Tree Village in Dunchurch, Rugby.
The funding has come from the Royal Bank of Scotland, and will pay for nine residential units as part of the overall larger development plan which is due to complete by 2020 – offering over 60 additional homes.
Work on the current phase of development at the Lime Tree Village development in Rugby is due for imminent completion, creating nine two and three bedroom residential units.
Lime Tree Village Limited is responsible for bringing high quality housing to the village of Dunchurch and surrounding area for the over 65’s looking to combine independent living in a village community that has local amenities – these include a bar to create a social environment, a library and multi-function activity rooms.
Neil Donaldson (centre), Finance Director at Retirement Villages Group Ltd, commented: “We are building a strong portfolio of retirement villages across the UK and Lime Tree is no exception, being recognised for its independent living but within a community environment. The planning and funding for the next phase of homes to be built is already in the pipeline and we look forward to bringing this development to fruition in 2016 and 2017.
“Our aim is to continue identifying suitable land acquisitions for future village sites and with Royal Bank of Scotland supporting our growth strategy we feel this is more than achievable.”
Kenny Nelson (pictured left), Relationship Director at Royal Bank of Scotland, added: “We are delighted to bring this deal to completion from the banks deal team. We have vast experience in supporting assisted and independent living communities across the UK due to their popularity and appeal. Working with Retirement Villages Group has allowed us to meet the local demands for this type of community-led housing in the West Midlands.”