Midlands care home developer proves adept at securing finance
Adept Care Homes has finalised a multimillion pound deal with Virgin Money-owned Yorkshire Bank, to re-finance the business and support the development of an 84-bed care home in Hucknall, Nottinghamshire.
The family-run business operates seven care homes in the Midlands, and its eighth home – in Hucknall - is set to open to residents later this year.
“An important part of the deal has been the funding we needed to complete the development of our new, state-of-the-art care home in Hucknall,” said Adept Care Homes managing director Dave Lock.
“The coronavirus pandemic has delayed our original plans by a few months, but we are now nearing completion of the build and preparing to open for residents in the coming months,” he added.
Adept promotes independent living through generously-sized care suites, lifestyle kitchens, living rooms, outdoor spaces including personal gardens and balconies, and a social calendar of entertainment and activities.
The Hucknall home also includes a traditional pub, cinema, library, café, private dining facilities and hair and nail salon.
The finance deal was negotiated as part of Adept Care Homes’ move to Yorkshire Bank as a new customer under the RBS Business Banking Switch.
“Adept Care Homes has a solid track record of consistent growth, undoubtedly driven by its commitment to providing excellent care for elderly residents,” said Kenny Nelson, relationship manager at Yorkshire Bank.
“The company is one of the biggest SMEs to move to the Bank under the Business Banking Switch. I look forward to continuing to work with the team and supporting its ongoing growth and success,” he added.