Fortwell provides £10.1m loan to Evermore Care for new Chorley senior living scheme

Fortwell Capital has completed a £10.1m development loan agreed on a 23-month term for Evermore Care for the construction of a new care home in Chorley, Lancashire.

The Astley View scheme will offer 90 bedrooms, as well as a galleried café that will open onto a corridor of trees through landscaped gardens.

Nick White, associate director at Fortwell Capital, said: “With Evermore Care, we welcome the opportunity to work with a new first-class sponsor experienced in delivering schemes that offer the highest quality of residential care. 

“State-of-the-art schemes like Astley View have proven their resilience in the market and will continue to be a central focus of Fortwell’s lending strategy, as long as there is a shortage of purpose-built space in the UK and demand for specialist finance to power much-needed development.”

Syd Coombes, managing director at Evermore Care, commented: “Fortwell Capital was our lender of choice when seeking development funding for our second home. 

“Astley View builds on our recent success at Ashton Manor in Lancaster, where we developed and now operate one of the top-rated care homes in the North West. 

“Fortwell’s successful track-record record as a specialist finance partner in the sector spoke volumes about its expertise during the due diligence period. 

“Our goal is to develop eight more high-quality care facilities in the next five years and we look forward to expanding our partnership with Fortwell as we actively seek to appraise and develop new sites that fit our stringent development criteria.”

The loan to Evermore Care follows Fortwell’s £51.2m loan to the JV between Audley Group and ReLF for a new retirement village in October 2021, marking the expansion of its lending scope within the senior living sector to include dedicated retirement living schemes, in addition to care homes.

Since 2014, Fortwell Capital has lent over £450m to purpose-built care home and retirement living developers.

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