News
Hallmark breaks ground on its first fully electric care home
OakNorth loan to support luxury
retirement developments Digital bank OakNorth has provided an £87.6m property investment facility to specialist retirement living developer Elysian Residences. The loan will refinance two recently
completed schemes – The Denton in Berkhamsted and The Beckett in Tunbridge Wells. These schemes are part of a joint venture between Elysian and Octopus Capital & Schroders Capital’s UK Retirement living Fund, which focuses on acquiring and developing high quality retirement living schemes across the UK. The Denton development comprises 103
units and The Beckett comprises 89 units – both offering luxurious, purpose-built retirement living with 24-hour care provision, private parking, and strong transport links to London. Elysian Residences CEO Gavin Stein said:
“Having worked together on several previous transactions, we value the OakNorth team’s proactive approach and deep knowledge of our sector. Their support will allow us to
maximise value from these two outstanding developments.” Deepesh Thakrar, managing director
of debt finance at OakNorth, commented: “Elysian is delivering exceptional retirement living schemes that cater to an underserved but rapidly growing demographic. Their commitment to architectural quality, lifestyle experience, and care integration makes them stand out in this sector. We’ve built a trusted relationship over multiple transactions, and it’s a privilege to support the refinancing of these two outstanding developments alongside such a strong equity partner in Octopus Capital & Schroders Capital.” Domas Karsokas, investment director at
Octopus Capital, added: “We are delighted to be working with OakNorth again to support the high-quality developments delivered by Elysian Residences. Their strong understanding of the sector, combined with a fast and flexible approach, makes them a trusted and effective partner.”
Work has begun on the 85-bed Hallmark Melrose Grange in Cardiff – Hallmark Luxury Care Homes’ first fully electric home. The new £23.5m home – Hallmark’s fifth in Cardiff – will boast air source heat pumps and solar panels. Construction is underway at a 1.8-acre site on Cypress Drive in Cardiff’s St Mellons district. Melrose Grange will be built by Cardiff- based company Langstone Construction and is scheduled to open its doors to its first residents in 2027. The development will protect local
wildlife with a dedicated bat house and dormouse corridor, while enhancing biodiversity with a wildflower garden for residents and families to enjoy. Complementing this will be a unique dementia-friendly garden – a tranquil, accessible space featuring a range of planting to engage the senses as well as promote independence with a fruit and garden patch for residents to tend. Sustainable travel to and from Hallmark
Melrose Grange will be encouraged through EV charging points, cycle parking, team shower facilities, and easy access to local bus services. Hallmark Luxury Care Homes CEO Nye
Brown said: “Melrose Grange, Hallmark’s first fully electric care home, represents an exciting step toward a more sustainable future. We are committed to reducing our environmental impact while continuing to provide the highest standards of care and comfort. By expanding our award-winning care across South Wales, we can support local people in the later stages of life in St Mellons to live active, fulfilled lives.”
Leeds care home enters final stages of construction
St Mary’s Care Homes has announced that its new Leeds home – Adel Square Care Home – is on track to start welcoming residents this spring. The 86-bed home will provide residential,
dementia, and respite care for families across North Leeds and the wider region. At full occupancy, the home will support around 80 staff. Adel Square Care Home marks one of St
Mary’s most sustainable developments to date. The building has been designed around enhanced thermal performance, high- efficiency systems, and integrated renewable energy sources. It is fully electric and powered through a combination of air source heat pumps and solar PV panels, enabling the scheme to achieve an EPC ‘A’ rating. Kirsty Crozier, managing director of St Mary’s Care Homes, said: “Adel Square Care
Home represents a major investment in both care provision and the wider community. Leeds has one of the highest levels of dementia diagnoses in the country and families are feeling that pressure. This home will provide much needed capacity, modern facilities and the type of personalised care people rightly expect. We are also creating around 80 jobs which is an important part of our long-term commitment to the area.”
January 2026
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