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.
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

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