Broadwood Capital completes £20m Lancashire care home loans

Broadwood Capital has completed two loans totalling £20m to Athena Healthcare Group to fund the development of two care homes in Lancashire. The first loan of £10.8m supports the construction of a three-storey care home comprising 89 rooms in Preston, which will provide residential, nursing and dementia care. The second loan of £9.2m provided finance for a two-storey care home comprising 80 rooms in Stalmine. Construction of the home was well advanced at the point of financing. Both schemes are anticipated to open in early 2026. Steven Wiley, founder and chief executive of Athena Healthcare Group, said: “Their team combines the two very specialist areas of the care home sector and construction, which is essential to support care home developers at a time when accessing the required finance can prove challenging. With Broadwood’s support, our developments at Preston and Stalmine are proceeding well and on track to be completed on time.” Dan Smith, chief executive of Broadwood Capital, said: “Pressure on the later living sector in the UK continues to mount. Athena has a great track record in care home development, builds excellent facilities and has a real specialism in the north-west of England. “The two loans showcase our ability to deploy our full range of capital to provide funding solutions to investors and developers in the later living sector.  Our Later Living Sustainable Construction Finance Fund invested in the Preston loan having worked closely with the borrower to ensure the development achieved our sustainability criteria, resulting in improved design, delivery and superior sustainability credentials.” Voltaire Financial acted as capital sourcing adviser for Athena Healthcare Group on arranging both loans. Image from Athena Healthcare