Funds to Complete an 18 Bed Residential Care Home in Birmingham

Funds to Complete an 18 Bed Residential Care Home in Birmingham
Funded: £400,000
Location: Birmingham
Property Type: Commercial
Funds For: Completion
Timeframe: 14 Days

Our client owned a former family care centre which was in the process of reconfiguration and refurbishment into an 18 room residential care home.

Due to problems with the main contractors, the works had stopped and the client’s current lender would not provide any further funding.

The client was left in a difficult position with funds urgently needed to move the project along.

Lowry Capital took a commercial view on the current condition of the property, paying off the client’s current bank lender and providing the extra funds to enable the property to be completed and made habitable. Once complete, the property will generate significant income and prove to be a lucrative care home business with a valuable property asset.

“The development had stalled and the property was in a relatively poor internal condition. Lowry Capital took the time to fully understand the circumstances and background to the project, and the problems that had occurred. We also took confidence in the care home experience of the owners and were therefore comfortable providing the funding to enable our clients to achieve a successful property and business outcome.”