Puma Investments has completed two deals within the residential care home sector totalling GBP11 million. The monies invested will fund the development and initial operation of two purpose built, modern care homes in partnership with established operator Abbey Healthcare.
Abbey Healthcare is owned by Prabhdyal Sodhi and currently operates a portfolio of 16 homes with 1,279 beds across the UK.
The first investment is a GBP6 million deal in Hamilton, Scotland to facilitate the development of a new-build 112 bed care home, all with en suite wet room facilities. The second is a GBP5 million investment to facilitate the development of a new-build 60 bed care home located in Mill Hill, London. Like the development in Hamilton, the rooms will also come with en suite wet room facilities. The two purpose built homes will be finished to the highest specification and will be served by a number of lounges, dining rooms and quiet rooms.
Commenting Eliot Kaye (pictured), Investment Director at Puma Investments, says: “We have been involved with a number of investments in the care home space, and are delighted to be working with Abbey Healthcare which is well established and a highly regarded operator in the sector. These deals fit well with our investment strategy of seeking to mitigate risk by ensuring our investments are asset backed and, we believe, will offer an attractive return for our investors.
“Small and medium-sized businesses are still finding it difficult to access the funding they need; as a consequence, we are seeing many established companies, like Abbey Healthcare coming to us for funding. We have a high quality pipeline of potential investments and can be flexible about where we invest, which is reflected in the variety of deals, both in terms of geography and business sector.”
