Award-winning Care Provider, Lovett Care, to Develop Major New Purpose-Built Site in Manchester, Following Loan from OakNorth
• Founded in 2009, Lovett Care provides high quality residential, dementia and nursing care in the North West and Wales;
• The Group’s current portfolio consists of over 500 beds, with the past three years having seen the business grow to nine homes;
• The bespoke loan from OakNorth will support Lovett Care’s latest purpose-built care home, situated in Northern Moor, Manchester;
• Those aged 65+ in England and Wales is forecast to grow by a further 2.3m to 13.9m by 2031, highlighting the growing demand for high quality care homes.
OakNorth – the digital bank for entrepreneurs by entrepreneurs – has provided a bespoke loan to Lovett Care, the award-winning care home provider.
Founded in 2009, Lovett Care specialises in offering residential, nursing and dementia care across England and Wales. The past three years has seen the business grow to nine care homes, with the Group’s current portfolio now consisting of over 500 beds. With a core focus of enabling older people to continue living an active and enriched life, regardless of their needs, Lovett Care have built-up a strong reputation in all the areas they operate in.
The bespoke loan from OakNorth will be used to support the development of Lovett Care’s latest purpose-built care home situated in Northern Moor, Manchester. The new site will consist of 59 en-suite rooms, lounge and dining facilities, hair and beauty salon, café, and activity room, and will specialise in offering nursing and dementia care, as well as treatments for other mental health conditions. The facility follows OakNorth’s initial loan to Lovett Care in March 2023, that was used to support the group’s future growth.
Keith Crockett, CEO of Lovett Care, commented: “We were delighted to once again work with OakNorth. This is a further milestone in our long-term growth strategy and consistent with our commitment to deliver the best quality care in attractive market locations.”
Dale Cowdell, Director of Debt Finance at OakNorth, added: “We were delighted to once again support this well-regarded care home operator. With those aged 65+ in both England and Wales set for a substantial increase over the next decade, this further highlights the importance of building new sites at locations across the UK. With a robust expansion strategy, the upcoming site will be a valuable addition to the community, enhancing Lovett Care’s overall success.”
Website: www.oaknorth.co.uk
Email: Dale.Cowdell@oaknorth.co.uk
Phone: 07954205166
