- Founded in 2019 and headquartered in Surrey, Aspire LPP is a specialist developer focused on the design and delivery of modern care homes across the UK;
- The £15.1m loan from OakNorth will support the acquisition and development of a new 74-bed, purpose-built care home in Clandon, Surrey;
- Those aged 65+ in England and Wales is forecast to grow by a further 2.3m to 13.9m by 2031, highlighting the need for more specialist care homes[1].
London, 27th May, 2026: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £15m loan to, Aspire LPP, to support the development of a new purpose-built care home in Clandon, Surrey.
Founded in 2019, Aspire LPP, is a UK-based care home developer specialising in the planning, design, and delivery of high-quality care facilities. Headquartered in Surrey, the business has built a strong track record delivering and progressing multiple care home schemes across the UK, working with leading operators and institutional partners.
The £15m loan will assist with the acquisition and development of a 74-bed, purpose-built care home located on a 1.64-acre site in Clandon, within the Guildford borough. The home will provide nursing, residential, and dementia care, with 100% en-suite bedrooms and a range of high-quality amenities including communal lounges, dining areas, therapy and activity spaces, landscaped gardens, and dedicated dementia-friendly facilities.
Michael Lucas, Managing Director at Aspire LPP, commented on the transaction: “This new site represents another important step in our strategy to deliver high-quality, purpose-built care homes in undersupplied markets. The scheme has been carefully designed to meet the evolving needs of residents, while delivering best-in-class facilities and environments. OakNorth’s understanding of the sector and its ability to support us across multiple projects made them a natural funding partner for this development.”
Damien Hughes, Senior Director of Property Finance at OakNorth, added: “Aspire LPP has built a strong track record delivering care home developments and is a trusted, repeat borrower for OakNorth. This transaction reflects the continued demand for high-quality, purpose-built care facilities, particularly in supply-constrained markets such as Surrey. With a growing elderly population and an increasing need for modern care accommodation, we’re delighted to support Aspire once again as they continue to scale their platform.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $20bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than £40bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
[1]ONS – Subnational population projections for England: 2018-based