Hallmark Care Homes has secured a £28m loan from Virgin Money to fund the development of two 80-bed care homes in Eastbourne and Bath.
The 60-month loan from the UK’s sixth largest bank will see Hallmark’s sister company, care home construction outfit Savista Developments, build the homes, which will feature several state-of-the art features including a hair salon, therapy room, café, cinema and ice cream parlour.
“We are delighted to be have secured this funding which will help us fulfil our aspirations of building exceptional living environments for older people,” said Hallmark chief operating officer Aneurin Brown.
“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,” he added.
The developments will be Hallmark’s 20th and 21st care homes.
Savista Developments chief executive 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,” he added.
Virgin Money director of health and social care Richard Hornsey 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.”
