Atelier, a specialist in development finance lending, has announced the completion of a £9.8 million funding deal aimed at the acquisition and renovation of a previously unoccupied care home located in New Southgate, North London. The financing will facilitate a comprehensive internal reconfiguration and refurbishment of the building, bringing it up to modern standards for care facilities.

This latest transaction marks the continuation of Atelier’s active involvement in the care home sector, following two development loans issued in the past two months. These loans supported the construction of a new 131-bed care home in West Yorkshire and a 60-bed facility in Cheshire, underscoring the lender’s commitment to enhancing care services across the UK.

Rav Kudhail, a lending manager at Atelier, highlighted the significance of this deal, noting, “This is our second transaction to support a UK-wide care home operator with the acquisition of an existing asset which will be refurbished and operated by our borrower once complete, providing high-quality care facilities in the area.”

This initiative not only underscores Atelier’s strategic investment in the healthcare sector but also its support for projects that aim to improve the standard of care available to communities. The refurbished care home in New Southgate is expected to offer enhanced living conditions and care services, contributing positively to the local healthcare infrastructure.