£17m Loan Secured for Development of Luxury 73-Bed Care Home in Leicester

Puma Property Finance has announced a £17 million loan to Cinnamon Luxury Care to facilitate the construction of a new 73-bed care home in Thurnby, Leicester. The project will transform a brownfield site, delivering a state-of-the-art facility that includes ten care suites featuring bedrooms with en-suite wetrooms, separate living rooms, and kitchenettes.

The care home will also offer a range of high-end amenities, including communal dining and sitting rooms, a cinema, private dining facilities, a hair salon, and a café. The site, initially sold by Charterpoint to Cinnamon in 2022, is set to begin construction in December 2024, with practical completion expected by August 2026.

Tony Throp, director and head of healthcare at Puma Property Finance, highlighted the importance of this development, noting the need for modern care homes in the area, particularly as many existing facilities are 20 to 30 years old. Stuart Norris, commercial director at Cinnamon, expressed excitement about the collaboration, emphasising the growing demand for quality care homes in the UK.