A new Innovative Finance ISA (IFISA) has been launched to invest in specialist care homes supporting some of the UK’s most vulnerable people.
The Barbican ISA, which is offering investors annual returns of up to 7%, will support over 83 specialist healthcare properties owned by The Barbican Group.
A spokesperson for The Barbican Group, said: “We are excited to offer UK investors the opportunity to enjoy a healthy rate of return on their savings whilst investing in an IFISA that will make a real difference to some of the most vulnerable people in the country.
“There is an alarming care home crisis in the UK, which is putting a strain on our NHS. At The Barbican Group, we have always been passionate about helping and supporting those people in society that need it the most.”
The Barbican ISA is a three-year bond offering investors a fixed rate of interest of 7% tax-free per annum with no opening or management fees.
Funds will go towards refurbishing existing care homes as well as enhancing the management and structure of the individual care home facilities.
The Barbican ISA is run by Northern Provident Investments and is both asset and property backed.
“Investing in The Barbican ISA will allow us to continue to improve the structure and quality of care within our care homes and give us the capacity to expand our portfolio of properties, refurbish existing homes and reach even more individuals,” The Barbican Group said.
“Our Innovative Finance ISA gives investors a refreshing alternative to many of the cash ISAs on the marketplace which have historically low interest rates.”
The group, which operates in healthcare, logistics and renewables, has current assets valued at over £105m.