Puma Property Finance has provided three loans worth a total of £31 million to North Bay to fund the development of three care homes across the UK.

The developments are located in York (a 66-bed care home), Bowburn (a 73-bed care home) and Preston (a 74-bed care home) and will all feature single occupancy, 100% en-suite wet room provision. Once completed, the schemes will supply 213 new beds to the UK care sector.

The York home will be located three miles to the west of the centre of York, the Bowburn home five miles South East of Durham and the Preston home, six miles from Preston train station and four miles from Preston Hospital.

North Bay specialises in the development and operation of care homes; currently running 47 schemes (over 2,700 beds) across Yorkshire & The Humber, North East, North West and the Midlands.

The developments are targeting completion in Q4 2026. 

Richard Hoggart, CEO of North Bay, commented:

“We are delighted to receive support from the team at Puma in building these care homes. They are set in fantastic locations and we look forward to providing our future residents with the very best that the care sector has to offer.”

Tony Throp, Director and Head of Healthcare at Puma Property Finance, added:

“We’re proud to continue our longstanding relationship with North Bay by supporting the development of three high-quality care homes across York, Bowburn and Preston. These schemes will deliver over 200 much-needed beds in areas facing significant shortfalls in en-suite wet room provision.

“With strong demand fundamentals and resilient performance characteristics, the care sector remains a key focus for us at Puma, and we’re pleased to be backing one of the UK’s top care operators as they expand their footprint.”