Property: Ewell, Surrey

VAT facility: £1,000,000+

Loan term: 90 days

BloomSmith has recently delivered a VAT bridging loan in excess of £1m as part of a commercial land acquisition in Ewell, Surrey.

Once the home to a now-demolished pub, the site is to be developed into a care home following the purchase.

The purchase of the land has been undertaken by Morrison Community Care Group, one of the UK’s leading care home developers.

Paul Sokhi, Managing Director at Morrison Community Care Group, comments, “Morrison Community Care has a long-standing reputation in the design and development of care homes. We are one of the UK’s leading care home developers because we are passionate about providing the very highest standard of living and service possible, having successfully done this in Scotland for over 30 years, we are now excited to bring our expertise to England.

“This is another step on the group’s journey to achieve our target of becoming the largest care home developer in the UK, to ease pressure on the NHS, and to provide quality, welcoming, sustainable care facilities for those that require them in our local communities and beyond.

“We are delighted to announce that the Group has continued its expansion into England, and have now come as far south as London, with the acquisition of this site.

“We look forward to bringing the Morrison Community Care product of sustainable quality care environments to Ewell, where residents can enjoy safe quality time while enjoying many amenities such as a cinema, champagne bar, spa, bistro and a private dining room.”

On providing the loan, Nigel Smith, BloomSmith CEO, commented: “Collaborating with Morrison Community Care Group is a wonderful demonstration of our VAT funding model in action.

“We are delighted to have played a role in this acquisition, delivering funding that will help them to bring their quality care to the Ewell area.”

See if you qualify for a loan via our VAT Bridging Loan Eligibility Checker.