Blackfinch Property completes £8.1m care home development loan
Financing will be used to develop a 70-bedroom care home and 7-bedroom assisted living facility in Blackburn
Blackfinch Property has completed a £8.1m loan, with a loan duration of 24 months, which will be used for the development of a 70-bedroom care home and 7-bedroom assisted living facility in Blackburn, Lancashire.
The development will help to meet the growing demand for high quality elderly care facilities, offering enhanced sized community spaces and features such as a sensory garden, hairdressers and gym. The property is in a central canalside location, promoting green and active transport use, and close to key amenities. Electric vehicle charging points and bicycle racks are also to be provided on site, along with renewable energy providers and a recycling and waste strategy.
Nicola Mayes, Investment Manager at Blackfinch Property, said: “We are very pleased to work with Urban Village Group again to support their efforts to provide much needed, high-quality care options for local residents. This development will revitalise a disused brownfield site, repurpose a picturesque location and provide a care facility with strong environmental credentials.”
“Given the growing demand for elderly care facilities in the UK, we are particularly proud to fund this project and help turn it into a high-quality care facility that meets the needs of the local community. At Blackfinch Property, we remain committed to helping individuals, businesses and communities to thrive and this project is a great example of that.”
Adam Faulkner, Executive Director at Urban Village Group, added: “We are delighted to work alongside Blackfinch Property once again as they continue to support our mission to improve senior living provision in local communities throughout the country.”
Blackfinch Property is a fully funded provider of innovative short-term bridging and development financing solutions. For more information, email [email protected]