Cheyne Capital provides €116m loan to Dorchester Living

Cheyne Capital has loaned Dorchester Living £99.6 mln (€116.6 mln) to support the next phase of a large-scale commercial and residential regeneration project at Heyford Park, Oxfordshire. 

This funding will refinance existing debt and support infrastructure improvements as Dorchester Living plans to build an additional 6,000 to 8,000 homes, including 30% affordable housing, on the former RAF airbase. 
The developer has already completed 1,200 homes and various community facilities on the site.
The loan will also support infrastructure improvements and the broader master plan, which includes schools, a health hub, and green spaces, with a goal of creating over 7,000 jobs and becoming a renewable energy-powered, energy-surplus town.
A range of amenities have been well established, including Heyford Park School, tennis courts, a hotel, a restaurant, a pharmacy, and a Sainsbury’s local. 
Theo Hajoglou at Cheyne Capital said: “We are proud to be part of Dorchester Living’s transformative regeneration scheme at Heyford Park, which is already making a meaningful impact on the local community. The team has a proven track record of delivering high-quality, sustainable communities and it’s already clear that Heyford Park is an environment where people want to live, work and thrive. We look forward to working with Dorchester Living to ensure this development sets the benchmark for regeneration excellence.”
Paul Silver, CEO at Dorchester Living, added, “The new funding allows us to accelerate our investment in the infrastructure that supports a truly integrated community – one where homes, schools, employment and green space are delivered hand in hand. “Sustainability is central to our approach and our focus is on creating a well-connected, future-ready development that delivers long-term value for residents, the environment and the wider Oxfordshire area.”
The redevelopment of Heyford Park prioritizes sustainability, aiming to achieve energy independence and become the first town in the UK to produce more energy than it consumes. This will be accomplished through renewable energy sources like solar and wind power, energy-efficient buildings, and a modern transportation system designed to minimize carbon emissions.
The site already benefits from excellent transport links, situated 1.5 miles from Lower Heyford station, 15 minutes from Bicester, and a four-minute drive from Junction 10 on the M40.
 Centrus Advisors acted as financial advisor to Dorchester Living on this transaction.