A £12.4 million loan has been provided to construct a purpose-built, 76-bed care home in Worcester, specialist development finance lender Atelier has today announced.

The care home will replace a derelict former restaurant on Droitwich Road, providing much-needed care facilities to support local people.

According to Savills, 14,400 new care home beds will need to be built every year between 2022 and 2032 to support the UK’s ageing population.

This marks Atelier’s second loan with this care home developer and operator.

The loan follows a series of recent financing deals in the care sector, including a £9.8 million loan for the purchase of a 107-bed care home in North London.

Rav Kudhail, lending manager at Atelier, commented: “This is our second loan with Macc Care who are committed to providing individualised care within each home they develop and operate.

“We are looking forward to continuing our relationship with our borrower throughout the development of this care home in Worcester.”