Commercial Finance for Care Home Purchase
6th October 2021
Key Facts:
- Property type: Care home in 4 acres of land, UK
- Property value: £4,500,000
- Loan amount: £3,000,000
Enness has access to hundreds of commercial property finance providers. Every deal Enness brokers is created from scratch and is structured to ensure your finance package meets every one of your needs. As a recent case illustrates, using different financial vehicles, it will be possible to overcome even the most complicated and time-sensitive fundraising operational issues.
In this case, our client was looking to fund a £4.5m purchase of an unused 22 bed care home. The home had closed after the group that owned it had financial difficulties in another part of their business. With the local authority being in desperate need for housing, the care home was in the local plan for change of use to residential.
Having said that, our client recognised the need for specialist care in the area and had an operator who had agreed to lease it once refurbished and extended. To give the local community the best of both worlds, the borrower has put forward a proposal for part of the 4-acre site to be given consent for housing.
With a number of challenges along the way, patience and perseverance was essential in this case. Having said that, we are looking forward to working with the clients and assisting with the ongoing funding requirements as the project progresses.
Delivered with speed and precision, Enness will be able to help you source the very best commercial property deals – regardless of how much you want to borrow.
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