Centrus advised Dorchester Living on a £100m refinance of its mixed-use development project in Oxford, Heyford Park

Transaction overview

Centrus Advisors acted as financial adviser to Dorchester Living on securing a £99.6 million senior loan facility from Cheyne Capital to support the ongoing regeneration of Heyford Park, Oxfordshire. The facility will refinance existing debt and provide additional capital towards infrastructure improvements and the delivery of an 8,000-home masterplan across the 1,231-acre former US and RAF airfield. This strategic funding will accelerate Dorchester’s plans for sustainable, integrated community development, incorporating extensive residential, educational, commercial, and green spaces, while contributing to long-term value creation for the Oxfordshire region.

Centrus’ role and added value

• Strategic advice on financing options, leveraging Centrus’ knowledge base to assess different debt structures to ensure they align with Dorchester’s funding objectives
• Financial analysis and adaptation of the business model to overlay key debt functionality and credit outputs
• Engagement with potential lenders to discuss structuring options, leading and supporting key commercial terms
• Collaboration with Dorchester’s legal advisors from initial commercial negotiations through to final documentation
• Designed and executed an interest rate hedging strategy
• End-to-end support to drive the transaction through to closing

“We are delighted to have advised the team at Dorchester Living on the refinancing of Heyford Park with Cheyne. The refinancing will facilitate the next phase of development at one of the most exciting regeneration projects in the UK, including the build out of critical infrastructure as the Dorchester Living team continue to deliver their 8,000-home masterplan.”

Scott Douglas, Senior Director and Head of Debt Advisory – Centrus

For more information, please contact Scott Douglas, Senior Director – Debt Advisory or Ella Boomer, Assistant Director – Debt Advisory.

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