New multi-site joint venture with Octopus Real Estate and Pension Insurance Corporation

Senior Living Investment Partners (SLIP), a £200 million (€233 million/$257 million) partnership between Pension Insurance Corporation and Octopus Real Estate, has announced a multi-site joint venture with Audley Group to develop up to four new retirement communities.

In total, SLIP aims to house up to 2,000 people in the coming years across 10 integrated retirement communities and deliver £1 billion (€1.2 billion/$1.3 billion) in gross development value into the sector. The joint venture will deliver 600 new retirement units across four sites and provide much-needed growth of the U.K. retirement living market for older people.

“Through our relationship, we will help address these societal issues while also providing long-term, secure investments which underpin the pensions we pay to our policyholders,” said Max Cawthorn, head of PIC capital strategy.

The first project will be the transformation of the historic Headley Court in Surrey, which consists o