Dukesmead Property Group specialises in acquiring sites to develop care homes, senior living and assisted living units.

Kyte Property is a London-based property development company that creates living spaces across the South East of England whose ongoing projects include a major residential scheme in Acton Park.

Formed in 2022, Grosvenor Hill is a real estate investment and development group managed by Abel Leaman and Dion Michael, specialising in social housing and facilities.

The £2.25m loan from OakNorth will be used to acquire a former NHS health centre in Bedfordshire, and convert it into a new supported living scheme, consisting of 18 one-bedroomed flats.

The site is located a short walk from a popular high street and will offer residents with large indoor and outdoor communal areas.

Rodney Bishop, managing director at Dukesmead Property Group, said: “With regard to our supported living projects, we always aim to exceed the expectations of our residents, providing them with a sense of community, expert care and a chance to live independently.

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“We’d like to thank Greg and the OakNorth team for their excellent support as we look ahead to strengthening our reputation within the UK’s care market.”

Max Kyte, chairman of Kyte Property, commented: “We look forward to continuing our partnership with Dukesmead and Grosvenor Hill moving forward.

“OakNorth’s swift and responsive team played a critical part in getting the transaction over the line and we would be eager to work with them again as we scale our portfolio across the region.”

Greg Manson, director of debt finance at OakNorth, added: “Our ongoing relationship with Grosvenor Hill is a testament to the trust and successful collaboration we have built over time.

“The formation of its joint venture with Dukesmead, Kyte Property and Grosvenor Hill will absolutely contribute towards elevating the standards of social care in Bedfordshire’s local community.”

Dion Michael, director of Grosvenor Hill, said: “Our new partnership with the talented team at Dukesmead and Kyte Property, means we’re set to deliver a greater number of truly transformative solutions to tackle the social housing and care crisis.

“Our relationship with Greg and OakNorth goes back several years, and we knew they would be the ideal funding partner to support our first JV project, given their impressive track record and knowledge of the UK’s social care sector.”