Care home developments underway in Surrey and Reading
Construction is currently underway on two care homes - in Surrey and Reading - thanks to £20 million of development loans from London-based Puma Property Finance, it was reported.
Developer Zephyr X is advancing the care homes at Reigate, Surrey (80 bed) and Whitchurch, Reading (45 bed) after loans of £13 million and £7 million, respectively.
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Tony Throp, director and head of healthcare at Puma, reportedly said the two sites would help the "chronic undersupply" of quality care beds in the UK.
"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," he added.
Puma and Zephyr X have now collaborated on four care home developments.
Adam Faulkner, founder of London-based Zephyr X, was quoted as saying: "Our vision is to create spaces that provide exceptional care and comfort for residents, reflecting the beauty and tranquillity 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."
The properties are set to benefit from features like dining rooms, cafes, and hairdressers.
The Surrey care home is expected to complete by December, 2025, while the Reading site, which is a part construction, part refurbishment - is earmarked for January next year
