Puma Property Finance has announced that in 2024, it provided loans for the development of over £150m of care homes in the UK.
These new purpose-built schemes are located all over the UK, including Surrey, Devon, Oxfordshire, Leicestershire and Essex, and will add over 400 new care beds to the UK’s care infrastructure.
These beds are in addition to the nine new care homes that opened during 2024 which Puma also funded the development of, delivering a further 600+ beds in various locations including Shropshire, Greater Manchester, Oxfordshire, Cambridgeshire, West Sussex, Kent and Hampshire.
Between the beds opened and those currently under construction, Puma has supported the development of over 1,000 beds in 2024. Overall, Puma has now funded over £665m of care homes across 39 schemes and approximately 2,800 care beds.
Mirroring Puma’s commitment to sustainability, including having its own Impact Lending Framework which launched in 2024, over 80% of the developments that opened in 2024 achieved an EPC rating of A.
With the UK’s over-65s population set to reach 15.3 million by 2030 and 18.8 million by 2050, the ongoing requirement for new care homes is paramount. In addition to Puma addressing this need, all care homes it funds benefit from an array of features, including full en-suite wet rooms, an abundance of communal rooms, utilisation of assistive technology and well-designed outside space, all of which can be beneficial to the health and wellbeing of residents.
Tony Throp, director and head of Healthcare at Puma Property Finance, commented: 'The UK care home industry, which is valued at £26 billion annually, relies heavily on new build developments to keep up with the ever-growing demand and aging supply. From our experience, larger lenders and mainstream banks typically focus on refinancing existing care homes, instead of funding new-build developments, because, by their very nature, there can be potential development risk. However, with Puma’s long established track record in the development finance space across multiple asset classes, including the care home sector, we prioritise our efforts on developing new schemes, adding substantial new care beds to the UK's infrastructure
'We believe the outlook for 2025 is similarly strong and we look forward to continuing to work with our valued partners to fund the building of state-of-the-art, future proofed homes that provide the best quality of life for residents.'