Overview

Puma Property Finance has arranged a loan facility of £18m to fund the development of a new care home in Ewell, Surrey. The loan, provided to Morrison Community Care Group (“MCCG”), will deliver an 81-bed scheme in the residential area.

The 100% wet room development will be built over six floors with communal facilities and amenities, including a salon, cinema and restaurant. It has significant outdoor space, which is proven to have mental health benefits for residents.

There is huge demand for high-quality later-life living accommodation in Ewell, with over 38,000 people aged 75+ within a five-mile radius¹. While there are a substantial number of care beds in the area, the majority of these are over 20 years old and offer little to no wet room provisions. This development will address the shortfall of modern stock in the area and provide the best possible quality of life for residents.

This loan is Puma’s first with MCCG and represents MCCG’s first development within England, having operated primarily in Scotland. Construction will begin in summer 2024, with the care home expected to reach practical completion in February 2026.

¹ Carterwood report April 2024
² Cofinimmo – United Kingdom