Property construction group, Simply UK, has opened a new care home in Inverness following a £7.2m development loan from marketplace lender, Assetz Capital.
The 88-bed Castle Hill House, which includes private dining areas, hair salons, a bar, and a secluded courtyard and garden for its residents along with views of Kessock River and Beauly Firth, was completed in a 13-month build.
Christopher O’Brien, Director at Simply UK, said: “Assetz Capital’s expertise in the sector made them a natural fit as a funding partner for us, which has proven successful on three deals so far. We look forward to working with them on future projects.”
Assetz Capital was established in 2013 with the aim of creating a fairer lending landscape, providing non-bank loans to small businesses and property developers. It has lent more than £910m to date and, in the last year funded the construction of one in 100 new homes built in the UK.
John Hewitt, Regional Director at Assetz Capital’s UK – North team, said: “The care sector has grown in the last few years, with developers identifying the need for more properties to accommodate an ageing British population.
“Simply UK is one of those striving to meet this demand, and it has created something special in Castle Hill House with its stunning views and luxury offering. We are proud to have supported the team on this ambitious project, and we are looking forward to seeing the home get up and running.”