Elysian Residences secures £16m co-development loan.

October 15, 2025

Transaction overview

OakNorth Bank and REL Finance provided a £16m co-development loan to Elysian Residences, supporting further delivery at Wildernesse Estate in Sevenoaks.

The funding supports Phase 2 of the scheme, including 20 additional apartments and clubhouse amenities designed around the lifestyle and service expectations of the later-living market.

The facility was designed to give the sponsor working room to continue delivery while maintaining momentum in a specialist residential segment where product quality, resident experience and sales pacing all matter.

Scheme and sponsor

Elysian Residences specialises in retirement living communities and has been growing a portfolio of high-quality schemes across the UK.

The Sevenoaks scheme already had strong sales momentum, with a substantial number of completed units sold or occupied before the additional phase moved forward.

Later-living schemes require close attention to both the property and the operating proposition. The amenity offer, service model, sales track record and demographic demand all inform how a lender should think about risk and repayment.

Why the sector matters

The UK later-living market is supported by long-term demographic demand, but successful schemes depend on careful execution. Borrowers need capital partners who understand that value is created through delivery, service, resident uptake and reputation, not only through bricks and mortar.

For REL Finance, the transaction provided an opportunity to back an experienced sponsor in a sector where specialist expertise is central to the outcome. The underwriting therefore considered the quality of the existing estate, the sponsor's operating model and the practical path through the next phase.

Funding structure

Working alongside OakNorth, REL Finance helped deliver a co-development loan suited to the requirements of the scheme. The structure supported additional homes and amenities while giving the sponsor a defined capital base for the next stage of the project.

That approach reflects REL Finance's broader lending style: evaluate the business plan directly, understand where the borrower needs flexibility and ensure the funding works with the asset's commercial timetable.

REL perspective

The transaction highlights REL Finance's ability to support specialist residential sectors where operational expertise, delivery track record and asset quality matter.

Working alongside OakNorth, REL Finance helped provide a clear capital structure for a sponsor delivering into a growing and undersupplied segment of the UK housing market.

The deal also illustrates that REL Finance can look beyond conventional asset categories where the sponsor, location and execution plan support a strong case for funding.

Borrower takeaways

Specialist residential and operational real estate borrowers often need lenders who can understand the whole proposition. REL Finance is able to assess these requirements across asset quality, borrower track record, delivery route and expected repayment strategy.

For sponsors progressing later-living, retirement living or other residential-led business plans, the key is to present a clear funding need, a credible delivery plan and evidence that demand supports the next stage of the project.

This REL Finance article provides an on-site transaction summary and added context for borrowers and advisers considering specialist residential funding requirements.