A care home with 60 bedrooms is set to be built on a 2.19-acre site in Odiham.
Planning permission had already been secured for the project. It will go ahead after the Aspire Group borrowed £1.7 million from specialist lender Octopus Real Estate to buy the land.
The commercial bridge loan was paid off when Aspire sold the site to Barchester Healthcare in June. The planning permission includes consent for 30 residential properties on adjoining land.
Aspire managing director Michael Lucas said: “Octopus fully understood our ambitions for this site. We know that there’s pent-up demand for care homes. The residential portion of the site will also deliver 14 much needed affordable homes.”