England is projected to see an average increase of 242,000 households per year from 2022 to 2032, with households aged 85 and over expected to rise by 42.3%.

The deal completed in just seven weeks from the initial contact to final drawdown.

This latest funding follows the completion of a £7.6m loan to convert an office building in High Wycombe into 52 apartments, announced on Tuesday.

The Wilton Park scheme will deliver 95 assisted living apartments for over 55s.

SHC Capital has secured more than £100m in finance for Euroterra Capital during a decade-long partnership with the developer.

The scheme will deliver 52 apartments, including 43 studios.

The 42-apartment London development secured funding at 70% loan-to-gross-development-value, enabling the project to proceed despite challenging market conditions.

The loan covers 70% LTGDV over a 15-month term.

The loan has a twelve-month term, giving the developer short-term liquidity to progress their programme

The project is structured over a 30-month programme.