Atelier provides £9.8m facility for acquisition and refurb of vacant care home

Specialist development finance lender Atelier has completed a £9.8m development facility to assist with the acquisition and refurbishment of a vacant care home in New Southgate, north London.

The loan will be used to reconfigure the care home internally and refurbish the building to provide up-to-date care facilities.

The news follows two development loans provided by Atelier over the past two months to build a new 131-bed home in west Yorkshire and for a 60-bed home in Cheshire.

Rav Kudhail, lending manager at Atelier, commented: “This is our second transaction to support a UK-wide care home operator with the acquisition of an existing asset which will be refurbished and operated by our borrower once complete, providing high-quality care facilities in the area."

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