Developer to begin build at energy efficient retirement village after bank backing

November 2021

Burnham Waters 1
Client Burnham Waters Ltd
Sector Property
Development Project Retirement village
Facility Development loan
Funding Need Development funding
Value £17 million
Team Development Finance
Region Essex


  • Development set to begin on retirement village with more than 200 energy efficient units
  • Shawbrook Bank supports developer with £17 million development loan
  • Five-fold increase in retirement living accommodation required to meet needs of ageing population

Work is set to start on a sustainable residential project for the over-55s in Burnham-on-Crouch, Essex, after property developer Burnham Waters Ltd, secured a £17 million loan from Shawbrook Bank.

Construction on the “Burnham Waters”, Integrated Retirement Community (IRC) scheme – which will comprise 103 bungalows, 55 independent living flats, a 70-bedroom care home and a parade of shops – is set to begin before the end of the year.



The scheme aims to reduce CO2 emissions by 30% compared with current building regulation requirements, with highly energy efficient bungalows each having its own electric vehicle charging point. In addition, the on-site facilities help reduce the need for travel and an electric minibus service provides connection to the town centre.

Plans for the scheme also feature a gym for residents, a swimming pool, tennis courts, an on-site surgery, and landscaped gardens and nature trails with a strong ecological focus.

Shawbrook Bank is supporting “Burnham Waters” first phase of construction, including the first 44 bungalows, which range from 936 to 1,485 sq. ft. Units are expected to be ready for market by late spring/early summer 2023.

The UK currently needs to supply five times more housing for older people just to keep pace with the country’s ageing population, with 2.1 million more people in England and Wales expected to be over 65 by 2029*.


We’re creating a vibrant community for the over-55s in Burnham-on-Crouch, where residents can enjoy independence and privacy while being connected to friends, neighbours and a host of amenities.

— Kate Chambers, Finance Director at Burnham Waters Ltd.

Ian Holloway, Project Director at Burnham Waters Ltd, added:

"Shawbrook Bank has proven to be a dependable partner that understands the intricacies of financing a multi-phase and complex project like “Burnham Waters”, and we’re on the cusp of starting this major project thanks to their support.”

Patrick Coughlan, Relationship Manager at Shawbrook Bank, said:

“Burnham Waters is an ambitious scheme, both in providing high-quality living on a large scale and in striving to be fit for a greener future”.

“The UK’s ageing population means we need more projects like this. Our experience in property development and in healthcare means we’ve been able to help developers in the retirement living and care sectors, giving them access to specialist finance to deliver these much-needed schemes.”


*Cushman and Wakefield, Housing and Care for Older People, 2020


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