Morrison Community Care Group (MCCG) has secured an £18m loan from Puma Property Finance to fund the development of an 81-bed care home in Ewell, Surrey.
The 100% wet room development will be built over six floors and offer a range of communal facilities and amenities, including a salon, cinema and restaurant.
This loan is Puma’s first with MCCG and is the care group’s first development in England. Construction will commence in summer 2024 with the care home expected to reach practical completion in February 2026.
Paul Sokhi, managing director at Morrison Community Care Group, said: “We have a long-standing reputation in the design and development of care homes, having successfully done this in Scotland for over 30 years. We are passionate about providing the very highest standard of living and service possible, so it’s fantastic to partner with Puma Property Finance who share these values and have delivered quality care homes over many years. We’re now excited to bring our expertise to England for the first time, and Puma have been the perfect partner to go on this journey with.”
Tony Throp, director and head of healthcare at Puma Property Finance, added: “It is more important than ever that we address the chronic undersupply of quality care beds across the UK, with 78% of care home beds in properties not originally built with care use in mind or over 20 years old. Well-designed healthcare developments are essential to meet this shortfall and we provide loans to schemes that endeavour to be as ‘future-proof’ as possible. This development will help to address the significant need for care beds in Ewell and the surrounding areas.
“We are really pleased to be working with Morrison Community Care Group on its first venture within England. With a number of successful care home developments in Scotland, we had no doubt that MCCG would be trusted partners and we look forward to building this relationship further in the future.”
