Conversion & Refurbishment

Residential conversion of a former nursing home

18-month loan to facilitate the conversion of a 32-bed former nursing home into a purpose built 38-bed HMO.

Screenshot 2023 09 20 153319
Screenshot 2023 09 20 153402
Screenshot 2023 09 20 153425
Picture2

We have provided a £3m gross loan to transform a nursing home and deliver a 38-bed purpose-built HMO in Bognor Regis. The scheme has been skillfully configured to reduce the number of occupants, and each HMO will have a private bathroom. Upon completion, the local council will lease the development.

Gross Loan

£3m

Term

18 months

LTV

55.9%

Units Created

38

Exit Method

Refinance

"It’s great to be working with this developer, who is experienced in delivering high quality HMO accommodation. The property occupies a corner plot in an attractive residential setting and is close to the seafront, so will provide an excellent setting."

- Raj Hothi, Senior Investment Manager

Do you have projects to discuss? Learn more about our Conversion & Refurbishment Solutions

Explore Solutions