The loans, of £13m and £7m, will be used by developer Zephyr X to deliver new care homes in Reigate, Surrey and Whitchurch, Reading, respectively.

Puma and Zephyr X have now worked together on four care home developments.

In Surrey, an 80-bed all electric care home will be delivered on the site of a former independent hospital. 

This property will include amenities such as a hairdresser, cinema/entertainment room, private dining room, cafe area and gym.

This will also feature 100% wet room provision, with the Reigate area suffering from a 474 wet room shortfall due to lack of construction.

In Reading, a 45-bed care home is being created with lounges, dining rooms, hair salon, therapy room and a cafe/bistro. This property will feature ensuite wet rooms, but there also being a shortfall of these in the area.

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Construction at both sites is underway with the Surrey care home expected to complete by December 2025. The Reading care home - which is a part construction, part refurbishment -  is expected to be completed sooner, by January 2025. 

Commenting on the deal, Tony Throp — director and head of healthcare at Puma — said these sites would help address the “chronic undersupply” of quality care beds in the UK. 

“Well-designed healthcare developments are essential to meet this shortfall and we are delighted that through partnering with Zephyr X we can support the construction of two new care-homes,” said Tony. 
 
“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.”

Adam Faulkner, founder of Zephyr X, added: "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."