Monday February 7th, 2022 -
Providing bespoke finance to support care homes on multiple Channel Islands
The Challenge
With those aged 65 and over in Jersey and the Isle of Man set to almost double in the next 20 years, a substantial minority of this age group will need some form of residential care, that can only be provided in a care home or hospital. LV Care Group has the local knowledge and track record to provide this level of care, so was looking to develop a new care home on each island and refinance three existing ones.
Opportunity & Outcomes
We designed a bespoke facility of £20M that allowed LV Care Group to acquire two new sites in Jersey and the Isle of Man, as well as refinance three existing care homes in Jersey – Lavender Villa, Cheval Roc and Rosemary Cottage.
after looking at different funding options, we chose OakNorth Bank as they showed a high level of understanding towards the local care home industry, as well as a willingness to design a package that was tailored to our specific needs.