Broadwood Capital

Here’s your daily round-up of the latest news and views from EG. 🏢 International law firm RPC is closing in on a deal for a new London headquarters at Aviva Investors’ 101 Moorgate. The under-offer letting is the latest in a rush of legal firms snapping up space. EG revealed in February that the firm had appointed RX London to find it a new 70,000 sq ft base in the capital, with its lease at Tower Bridge House ending in 2027. 💷 Allsop LLP has formed a partnership with debt advisory firm Empire Global Finance, in its first such arrangement for auctions. The collaboration aims to help bidders in need of short-term finance to move at the swift pace required by auctions. George Walker, Allsop partner and auctioneer, said: “While cash-rich private investors continue to represent the core of our buyer base, we acknowledge the importance of providing access to short-term financing solutions to those who need them, ensuring existing and future investors are able to take full advantage of our commercial and residential auction platform.” 👩🎓 Birmingham City Council has deferred a decision on plans for a 317-bed purpose-built student accommodation scheme until the HESA: Higher Education Statistics Agency releases student demand data for the 2024/25 academic year. Lavender Property's proposal had been recommended for approval but councillors said fresh data would show whether the development would have enough demand. 🏠 And property industry charity LandAid is appealing to BTR operators to support its Build to Rent Pathfinder initiative and help to end youth homelessness. The charity is calling on BTR operators to join Grainger PLC and Realstar in pledging homes from across their schemes to be made available at heavily discounted rents. The homes will be used for young people who have previously been supported by charity but are now keen to take their first step towards living a more independent life. 📰 There’s also news on a Mile End retail park being brought to market; Broadwood Capital’s latest later-living deals; and a pending approval for Regal’s £125m Camden PBSA scheme. All this and much more here. https://lnkd.in/eTQgdB5M

Delighted that Broadwood Capital has been able to support The Stepping Stone Group and NYNEHEAD CARE LIMITED with a £7.3mn loan to support the operation and development of Nynehead Court Care Home and the delivery of residential retirement living units on the adjoining site at Nynehead Court Farm. Big thanks to Andrew Robinson at Arc & Co. for structuring this. Complicated deal with many stakeholders and Andrew was instrumental in making sure all parties came together to get this completed. Now looking forward to working with John Bailey and his team to see the plans and developments being delivered.

The UK Care Home sector continues to exhibit strong fundamentals despite events taking place domestically and internationally. There is a still a huge demand for beds and an acute undersupply. The sector needs investment and funding. I covered this off in a short article we were asked to write for NACFB as part of the May 2024 edition of their award winning “Commercial Broker” magazine. You can check out the article below or in their magazine. Thank you NACFB for covering such an important area and raising more awareness to your broker and lender members. Thank you Carterwood for providing data and statistics to support the article. #carehome #elderlycare #laterliving #carehomedevelopment #CommercialBroker #NACFB