Once complete, Audley Scarcroft Park will be home to 22 cottages and 106 two-bedroom apartments.
Located at heart of the desirable ‘Golden Triangle’ formed by Ilkley, Harrogate and York, this project will be the third site on which Audley Group has partnered with Graham.
Audley Scarcroft Park will provide property owners and the local community to Audley Club facilities, including restaurant, health spa with hydrotherapy pool, gym and wellness studio.
The village will also offer delivery of care to both owners and the local community through Audley Care, Audley’s stand-alone Care Quality Commission-registered care provider.
“The close collaboration with Audley and the design team throughout this journey from early design to contract execution has been another success story for Graham, Audley and the design team. We very much look forward to building on this success,” said Jonathan Hall, managing director (England) at Graham.
Preparatory groundwork began on the site last year, including the demolition of the 70,000 square-feet 1970s office block, and the work now begins on the construction of 18 new buildings and start the restoration of Grade II listed Scarcroft Lodge.
The start of the construction comes after Fortwell Capital, a principal lender to developers and investors in the UK and Ireland, financed a £52.1m loan facility to the joint venture (JV) between Audley Group and Schroders Capital’s UK Retirement Living Fund (ReLF) advised by Octopus Real Estate, to support the development of Scarcroft Park.
The village will be the fourth village planned through the joint venture agreement.
Audley Group development director Philip Rolfe said: “The pandemic has brought the need for these types of villages to the fore; where property owners can maintain independence while also having a community and the option of care and wellbeing facilities on the doorstep.”