Care group secures £20m for expansion from Barclays

Finance | Vibeka Mair | 24 Aug 2009

Care home operator MHA has borrowed £20m from Barclays Commercial Bank to refurbish three care homes that it bought last year and build three new properties.

MHA, which comprises Methodist Homes, MHA Auchlochan and a housing association, already operates 70 care homes providing a mix of nursing, residential and dementia care, along with independent living properties and support services for more than 12,500 elderly people.

A spokeswoman for the charity said the funding would be split between refurbishment of three recently-acquired homes, making them more attractive and better equipped to care for elderly people with dementia and nursing requirements, and the construction of one new care home and two new schemes that offer independent living with on-site care.

The independent living schemes, in Harrogate and Newport Pagnell, will boast apartments that will be available for purchase, shared ownership and rent with 24-hour staffing on site to provide support and care as required.

Directory: Barclays Wealth | Methodist Homes for the Aged

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