Care home in West Sussex

£10.7m development loan for 70-bed West Sussex care home

£10.7 m

LOAN AMOUNT

SEPTEMBER 2022

Southeast England

LOCATION

Care home

SECTOR

Development loan

LOAN TYPE

Live

Overview

Puma Property Finance is providing a new facility to the Care Concern Group for the development of a 70-bed care home in Selsey, West Sussex. The development, funded by a facility totalling £10.7 million, commenced in October 2022, and when completed will provide 70 beds, with 100% ensuite wet rooms, and amenities including a hair salon, a café and cinema rooms.

The locality has a higher-than-average age profile, and a large undersupply of care beds with ensuite wet room provision, as well as a high proportion of older, outdated stock. The care home is to be completed in December 2023 and will be operated by Care Concern.