Connaught Care has secured a £17.5m development loan from Puma Property Finance to fund the delivery of a new purpose-built 95-bed care home in Stratford-upon-Avon, Warwickshire.
The four-storey care home will feature a range of communal facilities, including a hair salon, cinema, restaurant and a 39-space car park. Practical completion of the development is expected in December 2027.
This is the second Connaught scheme supported by Puma, which previously funded the development of Henbrook House, a 66-bed care home in St Neots.
Andrew Winstanley, CEO of Connaught Care, said: “Stratford-upon-Avon is an attractive and well-connected location, with clear demand for high quality, purpose-built care accommodation. This development will allow us to bring forward a modern home designed around residents’ comfort, wellbeing and day-to-day experience, with generous private rooms, en-suite wetrooms and a broad range of communal amenities. We are pleased to be working with Puma again, following their support for Henbrook House in St Neots. Their understanding of the care sector, and of our approach as a developer and operator, makes them a valued funding partner as we progress this next scheme.”
Tony Throp, director and head of healthcare at Puma Property Finance, added: “We are delighted to be supporting Connaught Care on another high quality care home development. The team has a strong track record in the sector, both as developers and operators, and the successful delivery of Henbrook House provides a clear precedent for this latest scheme. This scheme is also another example of our continued appetite to support experienced sponsors delivering much-needed beds in undersupplied local markets.”
