Gladman secures £40m NatWest backing

The retirement living developer has secured a £40m finance deal with the high street bank to support the delivery of four projects in the North West and a further 13 around the UK.

The Gladman group’s specialist retirement living arm Adlington has agreed the deal to support an expansion programme; sites in the North West to be backed by the finance package include schemes in Cheadle, Ramsbottom, Romiley, and Lytham St Annes.

The scheme in Heaton Chapel sits off Didsbury Road and includes 63 apartments for the elderly. Plans were submitted in March this year. Other sites the developer is delivering include a 75-apartment scheme in St Helens, and a £7.5m care home in Southport.

Completed developments have already been handed over in Rhos on Sea and Heaton Chapel.

Andy Clarke, relationship director at NatWest Real Estate Finance, said: “It’s an exciting time for the Gladman Group as they move forward with a series of projects for Adlington. The management team have a clear vision for future growth opportunities and Adlington continues to provide fantastic facilities for residents to support their needs and we look forward to supporting them in the years to come.”