Developer to complete 64 retirement apartments after £12.5m boost

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Some 64 retirement apartments are set to be built in Derby after Torsion Care (Derby) Devco signed a £12.5m development finance deal with Shawbrook Bank.

Last year, Torsion Care secured land at Manor Kingsway, Derby to create a new Burghley Retirement Living development with 64 individual apartments, communal lounges, a gym, a library, two guest suites and serviced office accommodation.

Torsion Developments was already working with Shawbrook on a 361-bed student accommodation project in Lincoln when Torsion Care approached the bank to discuss funding for the retirement development in Derby

Martin Hutson, director of Torsion Care, said: “Over the last few years, we have seen an increased need for homes that are designed to suit the independent living style of the over 55s yet have the longevity

 link source - The Business Desk

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