Puma Property Finance signs £13m loan to fund intergenerational development in Bowdon, Manchester
The care home and nursery will have an emphasis on intergenerational work which will be carried out by both the care home and nursery staff collaboratively. The development is designed to offer children and the older generation a chance to spend regular time in each other’s company, which has many proven mental and physical health-related benefits1. These include the children producing a creative newsletter for the care home residents and the residents taking part in reading sessions for the children, reducing loneliness for the elderly residents and improving language development, reading and social skills for the children.
Construction will begin at the end of November 2023, with the care home and nursery expected to complete in December 2024 and February 2025, respectively. The care home will be operated upon completion by New Care, while the nursery will be run by Back to the Garden Childcare (the McGoff Group’s Care Home and Nursery brands).
This development will be Puma’s ninth with the McGoff Group and will provide a much-needed supply of purpose-built care home facilities and nursery spaces. The existing building on the site (the Hydro) is a heritage building of significance and will be retained as part of the development.
A view from Puma Property Finance
“We are really pleased to be working with McGoff Group on this new intergenerational scheme in Bowdon, which will be our ninth collaboration with them and reinforces our commitment to the care sector. The benefits of interaction between generations have come to the forefront increasingly in recent years and the McGoff Group has a proven track record following its first multigenerational development in Lymm. We’re looking forward to this scheme coming to life late next year and seeing the positive impact it will have on the care residents, children and community.”
A view from the McGoff Group
“Puma Property Finance has provided senior debt facilities totalling almost £13m to McGoff Group to assist with the financing of our multi-million-pound, multigenerational scheme in Bowdon. Thanks to their support, we will be able to transform the derelict hotel site into a thriving space for children and the older generation to enjoy. As always, we have found the Puma team to be extremely proactive throughout the process, engaging with us in a truly collaborative manner. We hope this development and future developments follow the success of our recent blueprint multigenerational scheme in Lymm and continue to bring positivity and enjoyment to the residents.”