£14m loan provided for new 70-bed Ipswich care home

Overview

A £14 million loan to the Morrison Community Care Group (“MCCG”) to fund the development of a new purpose-built 70-bed care home in Ipswich, Suffolk.

The new home will be arranged over three floors and will provide 70 private bedrooms, all with en-suite wetrooms. The scheme will also include a range of communal amenities, including a hair salon, cinema, restaurant and other shared resident facilities, alongside a 35-space car park. The scheme will be fully electric and will benefit from Photovoltaic panels. The building is expected to provide 3,864 sq. m. of internal area, equating to approximately 55 sq. m. per resident. 

The development is intended to address strong local demand for modern elderly care accommodation. Carterwood data indicates a care bed requirement of 1,266 within the local area, compared with 830 existing en-suite wetroom beds, creating a current shortfall of 436 beds.

MCCG is an experienced care home developer and operator with a long track record in the sector. The group has delivered nine completed care homes to date, totalling 542 beds. Puma previously partnered with MCCG providing them with an £18 million loan in May 2024 to fund the development of a new 81-bed care home in Ewell, Surrey. 

Practical completion of the Ipswich care home is forecast for October 2027.