Multi-award-winning care provider, Hallmark Care Homes has secured a £28m development loan with the UK’s sixth largest bank, Virgin Money.
The family-run care group has secured the finance funding for the development of two 80-bed care homes in Eastbourne and Bath, which are being built by industry-leading, care home construction company, Savista Developments.
The 60-month loan will fund the development of the new residential, nursing and dementia homes which will feature several state-of-the art features, including; a hair salon, therapy room, café, cinema and ice cream parlour.
The developments will be Hallmark Care Homes’ 20th and 21st care homes.
COO at Hallmark Care Homes, Aneurin Brown said: “We are delighted to be have secured this funding which will help us fulfil our aspirations of building exceptional living environments for older people.
“We are excited to be able to create a luxurious care home for the Eastbourne and Bath community which will include the latest features in care and design and will support people to live an active and fulfilled life.”
CEO of Savista Developments, Kevin Shaw said: “This partnership with Virgin Money is another milestone for Hallmark Care Homes. The care homes in Bath and Eastbourne are just two of an extensive pipeline of new sites that represent an exciting phase of expansion for Savista.
“We believe it’s an important strategy to provide high-quality specialist environments for the UK market. We are very pleased to help meet the growing demand for specialist care, much-needed care beds and state-of-the-art features for local communities.”
Richard Hornsey, Director of Health and Social Care at Virgin Money said: “Hallmark Care Homes are one of the top providers in the country providing first class levels of both accommodation and care, we are proud to support them with development finance to construct these two new luxury care homes.
“Our long-standing experience in providing development funding for the care sector has enabled us to offer an attractive funding package to enable the continued growth of the Hallmark Group and we look forward to supporting them both on these projects and more broadly over the coming years.”