Website of The Care Home Environment Magazine

Atelier provides £9.8m loan for London home purchase

Specialist development finance lender Atelier has announced a £9.8m loan for the acquisition and refurbishment of a vacant care home in New Southgate, North London.

The loan will be used to reconfigure the care home internally and refurbish the building to provide up-to-date care facilities.

A report from the Greater London Authority last year highlighted that a decade-long care home creation project was needed to address the capital’s ageing population. With the over 65s population estimated to grow by 11 per cent over the 5 year period to 2027, Atelier hopes that the new facility will help address an undersupply of care home beds in London.

The news follows two development loans provided by Atelier over the past two months to build a new 131-bed home in West Yorkshire and for a 60-bed home in Cheshire.

Rav Kudhail, lending manager at Atelier, said: “This is our second transaction to support a UK-wide care home operator with the acquisition of an existing asset which will be refurbished and operated by our borrower once complete, providing high-quality care facilities in the area.”

Upcoming Events

Care Show London

ExCel, London
24 April 2024 - 25 April 2024

Future of Care Leaders Conference

The King’s Fund, London
Tuesday 30th April 2024

Care Roadshows - Liverpool

Aintree Racecourse, Liverpool
14th May 2024

Care Roadshows - Birmingham

Villa Park Stadium, Birmingham
16th May 2024

Care Home Awards

Royal Garden Hotel, London, W8 4PT
17th May 2024

Care & Occupational Therapy Show 2024

Westpoint Arena, Exeter
Wednesday 17th July 2024

Upcoming Events

Care Show London

ExCel, London
24 April 2024 - 25 April 2024

Future of Care Leaders Conference

The King’s Fund, London
Tuesday 30th April 2024

Care Roadshows - Liverpool

Aintree Racecourse, Liverpool
14th May 2024

Care Roadshows - Birmingham

Villa Park Stadium, Birmingham
16th May 2024

Care Home Awards

Royal Garden Hotel, London, W8 4PT
17th May 2024

Care & Occupational Therapy Show 2024

Westpoint Arena, Exeter
Wednesday 17th July 2024

Step Communications Ltd, Step House, North Farm Road, Tunbridge Wells, Kent TN2 3DR
Tel: 01892 779999
www.step-communications.com
© 2024 Step Communications Ltd. Registered in England. Registration Number 3893025