Homes England has announced a Â£ 40million loan to a private home builder to help speed up construction of 255 mid-range retirement homes in Watford.
Peter Denton, Managing Director of Homes England, said: âFirst of all, this will allow hundreds of older clients to enjoy high quality self-catering accommodation for years to come. The district will benefit from an enhanced health care offer and family homes will be freed up for the next generation.
“Our loan directly responds to the market financing challenges due to the pandemic and underscores our commitment to ensuring the diversity of communities.”
Nick Sanderson, Managing Director of Audley Group, said: âThe transaction with Homes England is a milestone for the retirement industry; a transition to adulthood. The government’s support underlines the importance given to increasing the supply in the retirement sector and to developing more innovative housing solutions. “
Homes England appointed Denton as new chief executive in June. He was previously the Managing Director of Hyde Housing and replaced Nick Walkley, who resigned his post earlier this year.
Mr. Denton held senior positions at Deutsche Bank and Barclays before joining Hyde as CFO in 2017.
Homes England chairman Peter Freeman is undertaking a review of the organization to ensure it is well positioned to support the government’s housing goals.
The review is expected to report in the fall.