Care home group builds for the future in Hampshire
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Hartwood Care Group is planning for a sustained period of growth after securing new banking facilities from Clydesdale Bank. Hartwood is a joint-venture between major care home provider Hartford Care, Cinnamon Care Capital and developers Highwood Group.
Hartwood has secured lending facilities of £5.2m from Clydesdale Bank’s Business and Private Banking Centre in London. The deal will contribute to the development of a 65-bed nursing home in Netley Abbey in Hampshire, due to be completed in spring 2015.
The home involves the refurbishment of the former Netley Court School and a new build and follows similar projects at Hartwood House in Lyndhurst last summer and Sunnybank in Fairoak this summer.
The latest deal was delivered by Clydesdale Bank’s regional business development manager, Alex Brown.
With origins dating back more than a century Hartford Care remains a family-owned business delivering residential, dementia, nursing, respite, and day care. Hartford’s capital partner, Cinnamon Care Capital, is a UK healthcare investor specialising in senior care and senior living properties. It focuses on investing in new care homes for senior residents requiring high dependency care. Its development partner, Highwood Group, specialises in the development of perfectly located, high quality residential properties, luxury retirement communities and care homes.
“Of all of our projects, Netley Abbey boasts the most stunning location, with waterfront views across the Solent just one of its many selling points,” said Sean Gavin, chief executive at Hartford Care.
“The new development will offer nursing, residential, and dementia care including permanent, respite, and day care services and will be a welcome addition to our existing portfolio.
“Our current focus would not have been possible without the support of Clydesdale Bank, which has worked closely with our team to help us realise our ambitions.”
Hartwood Care is expected to enter a sustained period of growth with the company looking to expand its portfolio of care homes, increase its customer base, and create more jobs. The company is expecting strong annual growth which could create up to 500 new posts created in the next five years. Derek Breingan, head of healthcare for Clydesdale Bank, said the success of Hartwood Care was testament to the experience, drive and expertise shown by the management team, and represented all that was good about the entrepreneurial spirit of businesses in the South.
“As we begin to see signs of economic recovery, Clydesdale Bank remains focused on investing in the growth ambitions of the local business community,” said Mr Breingan.