Puma Property Finance

Puma Property Finance lends £9m for Manchester care home development

Puma Property Finance has completed a £9m loan for the development of a purpose-built, 68-bedroom care home in Greater Manchester.

The development will provide care for residents in Cheadle and the surrounding area.

This is Puma’s latest venture into the space as it looks to strengthen its expertise in the health and care sector.

Tony Throp, director at Puma Property Finance, said: “With an ongoing shortfall in care home places across the country, Puma Property Finance is committed to supporting experienced developers in this important sector. 

“It remains a key focus for us as we continue to grow our loan book across alternative sectors in 2019 and beyond.”

This follows its recent £9.5m loan to fund a 71-bed care home in Bramhall, Greater Manchester, along with the completion of care home developments funded in Chester, Cheshire, and Formby, Merseyside.

In a recent interview with Development Finance Today, David Kaye, CEO at Puma Property Finance, stated that Puma had provided £100m in loans for care homes, supported living and retirement developments.

He added that it was comfortable with the asset class — despite it being more complex than a typical residential development — as it had been lending to developers of operational real estate for more than a decade.

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