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.
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.
"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
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