A brand new high quality care home for the elderly in Edinburgh, established by Care Concern Group, is raising £3million from investors through Downing Crowd, a crowdfunding platform that invests in a wide range of UK business sectors.
The Manor Grange care home, overlooking Carrick Knowe Golf Course in the Corstorphine area of Edinburgh, opened its doors in late October 2016, with the original redevelopment and refurbishment of the care home having been funded by Downing Crowd’s wider investment business, Downing LLP. The sizeable new funds currently being raised by Crowd Bond investors will help support the ongoing operation and day-to-day running of the care home.
Downing Crowd Bonds are a type of investment-based crowdfunding that allow investors to lend directly to businesses via bonds that are secured against a firm’s operational assets. This security seeks to help reduce investor risk by enabling Downing Crowd to sell these assets if the borrower fails to pay interest on the bond for any reason.
Julia Groves, Head of Crowdfunding, said: “Over a million people have now invested through a Crowdfunding platform but, despite this popularity, the different kinds of crowdfunding tend to all get labelled as ‘extremely risky’. In fact, Crowd Bonds are a simple type of investment and, provided investors fully understand the relevant risks, they can offer attractive returns in the current climate of low interest rates and rising inflation.
“Moreover, at Downing Crowd we only invest in established UK businesses, making our Crowd Bonds a great way to see your money make an impact in your local area. Manor Grange is the first of what we hope will be many opportunities in the residential care sector for Downing Crowd, as we see a lot of potential here to help encourage greater quality care for the elderly. Manpreet Johal, CEO, Care Concern Group, added: “Finding more traditional forms of funding is still a challenge for many businesses in both the care sector and beyond. We pride ourselves on providing the best possible care facilities and comfortable surroundings for our residents and thanks to the support of crowdfunding investors we are confident that Manor Grange will be able to deliver this high standard of service. With our doors now open, we are looking forward to becoming an important part in the local Corstorphine community.”