The development will provide 92 suites of which 24 are designed for dementia care. Facilities include a restaurant, hair salon, lounges, cinema, spa bathroom, bistro and a space for exhibiting art.
Work will start on site in October 2012 with completion due in spring 2014.
The project is designed to BREEAM 'Excellent' standard and will incorporate sustainable features such as a combined heat and power (CHP) plant and solar thermal panels.
GB Group chairman and chief executive Martin Smout said: “GB shares Signature's 'people focus' to create a community for residents, providing a premium service where residents can have both expert care and a happy, stimulating lifestyle. We will use our expertise to make sure that residents live in a high quality building where this lifestyle is possible. This is the start of an exciting new relationship with Signature Senior Lifestyle and we are looking forward to using our extensive experience to deliver them a high quality care development.”