{"id":9831,"date":"2026-04-02T19:02:36","date_gmt":"2026-04-02T19:02:36","guid":{"rendered":"https:\/\/second-home.uk\/?p=9831"},"modified":"2026-04-02T19:02:36","modified_gmt":"2026-04-02T19:02:36","slug":"pallas-capital-provides-2m-for-surrey-assisted-living-scheme","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=9831","title":{"rendered":"Pallas Capital provides \u00a32m for Surrey assisted living scheme"},"content":{"rendered":"

Pallas Capital has provided \u00a32,021,500 in development finance for a 16-unit assisted living scheme in Wallington, Surrey. The facility will refinance existing debt and fund ground-up construction over a 16-month period.<\/p>\n

The loan was structured at 65% loan-to-gross-development-value (LTGDV), representing the borrower\u2019s first project in the assisted living sector following previous experience in residential development. Mark Witherington, senior originator at Pallas Capital, led the transaction, which was introduced by broker Miles Wallace of The Commercial Branch.<\/p>\n

Transaction structure<\/h2>\n

The deal involved Robert Hutchins of AWH as valuer, Ruaidhri Mulligan of TSA Riley as monitoring surveyor, and Danielle Fewtrell of Brechers for legal work. Pallas Capital agreed to increase the facility following a reassessment of costs during the transaction process.<\/p>\n

The borrower intends to refinance onto a term loan once the scheme stabilises. This approach, where development finance transitions to longer-term lending<\/a>, is common in assisted living projects that generate ongoing income rather than immediate sales.<\/p>\n

Market context<\/h2>\n

The UK\u2019s assisted living sector faces increasing demand driven by an ageing population and limited purpose-built stock. Wallington, located in the London Borough of Sutton, offers transport links to central London and access to local amenities and healthcare services.<\/p>\n<\/p>\n

Witherington said the transaction demonstrates the lender\u2019s approach to supporting developers entering new asset classes. \u201cAssisted living is a growing sector with strong demand, and our experience in this space allowed us to structure a facility that worked for both the borrower and the project,\u201d he stated.<\/p>\n

The deal reflects broader activity in specialist property development<\/a>, where experienced residential developers are diversifying into sectors with demographic tailwinds. LTGDV-based lending structures allow borrowers to secure finance against projected completed values rather than current site valuations.<\/p>\n

Sector outlook<\/h2>\n

The transaction highlights the financing options available for developers moving into specialist housing sectors. The combination of demographic trends and supply constraints continues to attract development activity in assisted living, particularly in areas with established residential demand and healthcare infrastructure.<\/p>\n

Witherington noted that broker relationships<\/a> remain important in specialist lending transactions, where established connections can influence deal terms and completion timelines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pallas Capital has provided \u00a32,021,500 in development finance for a 16-unit assisted living scheme in Wallington, Surrey. The facility will refinance existing debt and fund ground-up construction over a 16-month period. The loan was structured at 65% loan-to-gross-development-value (LTGDV), representing the borrower\u2019s first project in the assisted living sector following previous experience in residential development. […]<\/p>\n","protected":false},"author":1,"featured_media":1296,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-9831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\nPallas Capital provides \u00a32m for Surrey assisted living scheme - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/uk\/pallas-capital-provides-2m-for-surrey-assisted-living-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pallas Capital provides \u00a32m for Surrey assisted living scheme - Second Home\" \/>\n<meta property=\"og:description\" content=\"Pallas Capital has provided \u00a32,021,500 in development finance for a 16-unit assisted living scheme in Wallington, Surrey. The facility will refinance existing debt and fund ground-up construction over a 16-month period. The loan was structured at 65% loan-to-gross-development-value (LTGDV), representing the borrower\u2019s first project in the assisted living sector following previous experience in residential development. 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