Puma Property Finance has announced over £33m of development funding to finance three care homes in Oxfordshire, West Sussex, and Cambridgeshire.
Boasting a track record of funding social care infrastructure, Puma has funded over 1,800 beds to date, with a value of over £380m. For this latest investment, three developments were chosen based on the significant demand for care in their respective locations.
Tony Throp, director at Puma Property Finance, said: “We’re delighted to support these three critical developments to help address the severe shortage of high-quality care homes in this country. The COVID-19 pandemic shone a light on the number of care homes that are no longer fit for purpose or able to cope in such extreme circumstances, further highlighting the need for development in the sector.
“This has led to a real drive to develop modern purpose-built care homes to enhance the wellbeing of residents and ensure high quality care provision; a goal we can support through the provision of private capital. We believe this is integral to the future of the sector, and can provide an abundance of growth possibilities for care operators and developers alike.
“We’re also pleased as the developments have, and continue to provide, additional employment opportunities for the local community whether through the construction process or direct employment in the homes themselves.”
