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Senior Living Investment Partners ('SLIP'), a partnership between Pension Insurance Corporation plc ('PIC'), a specialist insurer of defined benefit pension schemes, and specialist real estate lender and investor Octopus Real Estate ('Octopus'), today announces another investment via its joint venture with Elysian Residences.
The 100-unit Integrated Retirement Community ('IRC') will be located in Henley-on-Thames, a picturesque town in Oxfordshire, known for its scenic beauty, vibrant community and the world-famous annual Henley Royal Regatta.
The IRC will include a mix of one-bedroom, two-bedroom and three-bedroom homes. The development is part of a wider strategic partnership with Elysian Residences and is funded through the SLIP JV with Elysian. This is the third Elysian site that SLIP has invested in and the fifth site overall with Elysian across the Octopus-managed Retirement Living funds.
The development will include a range of amenities designed to enhance the quality of life for residents, including a café and bistro, gym, swimming pool, wellness and relaxation areas, a curated library, and residents’ lounges. The community will be centred around beautifully appointed communal spaces and centralised facilities, promoting the strong sense of community and wellbeing among residents that Elysian Residences have become known for.
Mathilde Guittard, Investment Director at Octopus Real Estate, commented:
“As ever, we are thrilled to work with Elysian Residences to deliver this new IRC in Henley-on-Thames. Through our partnership with PIC, we aim to deliver some of the highest quality developments the later living sector has seen, with a drive towards both carbon efficiency and significant health and wellbeing benefits for the UK’s older population. This investment aligns with our commitment to providing high-quality, sustainable homes for all stages of a person’s life. The new community will offer residents a vibrant community with access to excellent amenities and services.”
Max Cawthorn, Head of Strategy, PIC Capital, added:
“Our latest IRC investment marks our third development in collaboration with Elysian. This partnership is crucial in addressing the longstanding underfunding in the senior living sector. The Henley development, like our other projects, exemplifies our commitment to high-quality, purpose-driven investments. We aim to deliver an unparalleled experience that significantly enhances the quality of life for residents.”
Gavin Stein, CEO, Elysian Residences, concluded:
“The demand for retirement communities continues to grow, and we are delighted to partner with Octopus Real Estate and PIC to meet the high demand in Henley-on-Thames.
Our partnership puts customers at the heart of what we do, allowing us to continue to innovate for the benefit of both customers and society, and work hard to serve all key stakeholders, including the local community of Henley-On-Thames, which we are proud to become part of.”
This transaction builds on growing investment momentum in the retirement living sector. The addition of the scheme to the Octopus portfolio means the two Octopus institutional retirement living Funds are now fully committed across 11 properties, delivering over 2,400 much-needed beds to the sector.
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Notes to editors
Media enquiries:
Ani O’Neill
Senior Communications Manager
Octopus Real Estate
Ani.ONeill@octopusinvestments.com
press@octopusgroup.com
T: +44 20 3935 3911
About Octopus Real Estate
Octopus Real Estate, part of Octopus Investments, is a specialist real estate investor and lender delivering quality, sustainable places to live for every stage of life. Through our role as an investor, lender and landlord, we fund the entire lifecycle of real estate ─ reimagining its future. We have more than £3.6bn in real estate assets and secured lending, working with our partners to deliver greener homes for people to buy or rent, increase the supply of genuinely affordable housing, and build communities that meet the aspirations of elderly people. We also transform underused land and properties that require regeneration and redevelopment. We believe that real, lasting change can only be achieved if businesses invest in the right way. We work with people who share our values, and take our responsibilities to the communities we serve seriously. Together, we’re harnessing change to build a better tomorrow. Octopus Real Estate is the trading name of Octopus Investments Ltd (Reg No 03942880), Bridgeco Ltd (Reg No 6629989), Fern Trading Group Ltd (Reg No 6447318), Octopus Commercial Term Ltd (Reg No 13486353), Nino Ltd (Reg No 9015082), Octopus Administrative Services Ltd (03974202), Octopus Healthcare Development Ltd (Reg No 03788979) and ORE Lending Ltd (Reg No 12908588)), all registered in England & Wales at: 33 Holborn, London, EC1N 2HT, and Octopus Real Estate S.ar.
About PIC
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At half year 2024, PIC had insured 348,600 pension scheme members and had £47.7 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. At 30 June 2024, PIC had made total pension payments of £14.9 billion to its policyholders and had invested more than £13 billion in the UK economy, creating considerable social value. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
About Elysian Residences
Elysian Residences specialises in the development and operation of luxury retirement communities, offering a premium service and care provision. The Elysian team comprises best-in-class property development, operations and management professionals, with more than 150 years combined experience in designing, delivering and managing exceptional UK property, including some of the most prestigious new residential and retirement developments in the country. Founded in 2013 by CEO Gavin Stein, we have a portfolio of 11 retirement communities, either in development, awaiting planning or open, with around 1,000 units and a total sales value over £1billion.
