A NEW CARE home in Worcester has been given funding for construction.
Atelier has given a £12.4million loan to fund the build of the new 76 bed care home in the city.
The care home will replace a derelict resturant on Droitwich Roach and provide care facilities to local people.
According to Savills, 14,400 new care home beds will need to be built every year between 2022 and 2032 to support our aging population.
The loan follows a series of recent financing deals in the care industry, including a £9.8m loan for the purchase of a 107-bed care home in North London.
This is the second loan from Atelier with the care home developer and operator.
Rav Kudhail, lending manager at Atelier, said: “This is our second loan with Macc Care who are committed to providing individualised care within each home they develop and operate.
“We are looking forward to continuing our relationship with our borrower throughout the development of this care home in Worcester.”
