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Puma Property Finance has closed a loan of £25 million to finance the development of two retirement living schemes in the South East. Led by a highly experienced developer, the loan facility will provide 50 retirement flats in Wantage, Oxfordshire and 25 retirement flats in Chigwell, Essex.
These transactions come at a time when the UK is experiencing a chronic shortfall in retirement housing: research conducted in 2018 by Key Retirement found 620,000 UK homeowners over 65 had looked into downsizing but were unable to find a suitable home in their area.
Not only is the undersupply leaving this growing demographic with assets tied up in unsuitable properties, it’s also exacerbating wider housing market stagnation.
Puma Property Finance is one of the lenders offering development loans from £3 million to £30 million to professional developers throughout the UK and across a range of sectors.
Call Trinity Specialist Finance to secure funding for a development and get a full assessment of the specialist market on 020 7016 6151 or book a consultation
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