Hallmark Care Homes has secured a £28m development loan for two care homes in Eastbourne (pictured) and Bath from Virgin Money.
The 60-month loan will fund the development by Savista Developments of two, 80-bed residential, nursing and dementia homes which will include a hair salon, therapy room, café, cinema and ice cream parlour.
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.”
The developments will be Hallmark Care Homes’ 20th and 21st care homes.