Molicare Gif
Edit Template
Edit Template
Edit Template

Allica Bank supports new entrant to the care home market in first healthcare deal

Allica Bank has delivered its first commercial mortgage within its recently launched healthcare division, enabling the purchase of a 21-room, Shropshire-based care home.  

Hartlands Rest Home, a residential and dementia care home based in Oswestry, has been providing elderly care to the local community for over 35 years. The home has performed extremely well historically, providing high-quality standards of care to its residents, reflected in its consistent ‘Good’ ratings from the Care Quality Commission (CQC) for all five categories (safe, effective, caring, responsive and well led).  

hartlands-rest-home Allica Bank

 The loan – totalling nearly £500,000 – enabled the purchase of the company from its previous owner, who was retiring after running the home for its 35-year history, with the transaction completing in October. Allica said the new owner is a first-time buyer that has extensive experience in the care home sector, and they will be supported by the existing management and operational staff, who will continue to manage its day-to-day activities. 

Anthony Newman, Specialist Relationship Manager at Allica, says the bank is extremely pleased to have been able to support such a promising business:  

“We are delighted to be able to help our customer acquire his first care home,” he explains.  

“Their experience in the care sector, combined with the care home’s long-standing and excellent regulatory performance and reputation in the community, made it a transaction we were keen to support. It’s fantastic, too, to see Allica’s new healthcare division able to make a mark so quickly.”  

David Ward of Christie Finance, the firm that helped arrange the loan, added: “In a sector which is seeing many challenges, this transaction shows the appetite that exists to support both new entrants and existing operators in acquiring quality, well run and profitable care homes. We’re proud to assist such a strong borrower as they enter the market for the first time. 

“Allica’s approach to this transaction is evidence of relationship banking doing its job of working with the customer to understand the requirement and is a testament to the real value that care specialists can bring to the sector.”

August LTD
Grahame Gardner
Mr Trax Curtain & Blind Solutions
Care Show London
Inspired Inspirations
Edit Template

Care & Nursing is provided be Euromedia Associates Ltd
UK Registered Company Address: 10 Ashfield Rd, Chorley, PR7 1LJ

Tel: 01257 267677  Email:
Registered Company No: 02662317 VAT Registration No: GB582161642

Euromedia Associates Ltd Publishers of Care and Nursing Essentials Magazine  

Guaranteed Royal Mail distribution

Euruomedia Publishers of Care and Nursing Magazine Celebrating 34 years
Royal Mail Logo

Website and all content Copyright © 2024 Euromedia Associates Ltd All Rights Reserved.

Edit Template