Yorkshire Bank has financed one of the largest new care home developments in the UK with a £10m loan.
The cash will be provided for Vida Healthcare’s new Vida Grange in Harrogate and follows on from financing of the group’s first home Vida Hall.
Brian De Vere, business banking manager, said: “Yorkshire Bank is delighted to be able to fund this valuable project and continue our relationship with Vida Healthcare. The new care home will make a significant difference to the area, not only through the creation of new jobs, but also through providing the support and care to those who need it.”
With the completion of Vida Grange, Via Healthcare will provide 194 beds and employ 300 people at both its Harrogate homes.
James Rycroft, managing director of Vida Healthcare, said: “We’re thrilled that our continued partnership with Yorkshire Bank has allowed us to develop two much-needed, specialist services, putting Harrogate on the map for quality dementia care. The funding has created almost 200 residential places, as well as day care services and respite care to the local area and beyond. It will also provide a real boost to local employment.”
Leeds – based law firm Blacks Solicitors has also been working closely with the Vida Healthcare team on acquiring the land and developing the new build care home.
Established in 2010, Vida Healthcare was one of the first care home groups to gain ‘outstanding’ under the CQC’s new rating system.