Zephyr X has secured loans totalling £20m from Puma Property Finance to fund the delivery of two new care homes in the South East of England.
A £13m loan will finance the development of an 80-bed all-electric care home in Reigate, Surrey, on the site of a former independent hospital, and a £7m loan will fund the delivery of a new 45-bed care home in Whitchurch, Reading (pictured).
Adam Faulkner, founder of Zephyr X, said: “We are thrilled to embark on the renovation and development of these two new stunning care homes. Our vision is to create spaces that provide exceptional care and comfort for residents, reflecting the beauty and tranquility of their surroundings. We extend our thanks to Puma for their continued support in our development pipeline as we expand and bring this vision to life.”
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 144,000 additional care homes needed to meet population growth in the next 10 years. Well-designed healthcare developments are essential to meet this shortfall and we are delighted that through partnering with Zephyr X we can support the construction of two new care-homes.
“Both schemes will address the significant need for care beds in these micro locations, for example in Whitchurch and the surrounding areas there has been just one new scheme built in the last 13 years and 60% of the total stock built over 18 years ago. We have a long-standing relationship with Zephyr X, having worked with them on previous developments and this is a great opportunity to continue building on this relationship.”
