OakNorth Bank has completed a £20.2m loan to Park Lane Healthcare to build a care village near Pocklington in East Yorkshire.
Lavender Fields care village will consist of a 72-bed care home offering full-time care and 24 close-care bungalows for married couples, partners or friends.
Facilities will include an on-site licensed café and bar, cinema room, shops, and wellness centre.
All rooms will offer full ensuite shower facilities and will be located at ground floor level, with many of them offering views across open countryside, with others into landscaped courtyards.
“Lavender Fields care village is a home from home, self-sustainable retirement community, lovingly thought through and currently being created to offer those who choose to live here a peaceful haven, away from the hustle and bustle of everyday life, but with everything on hand to enjoy a wide and varied social life. This is why our slogan is ‘Making New Memories’!,” said Park Lane Healthcare chairman Chris Mitchell.
The bespoke debt facility from OakNorth Bank will also be used to enable Park Lane Healthcare’s future growth strategy of developing more retirement villages in 2022 and beyond.
“Due to our expertise across both property development and SME trading deals, we were able to create a bespoke facility that allowed Park Lane Healthcare to refinance its existing debt and develop its new site under one facility,” said OakNorth Bank director of debt finance Stewart Haworth.
“With first class care services, professionally trained staff and a beautiful semi-rural location, we envisage demand for the Lavender Fields care village will be high and we look forward to working closely with Chris again on future developments,” he added.
