Social care charity Avante Partnership has today launched a £5m charity bond to build a new 75-bed freehold care home for people living with dementia on the Isle of Sheppey.
The charity bond has a minimum investment of £2,000 and offers a 5 per cent gross fixed return for five years. The bond will have a minimum investment of £500 for Avante employees.
Avante, which has a income of £31m according to its latest accounts, is one of the largest social care providers in the South East of England supporting around 2,700 people each year through 15 care homes and community-based services.
It specialises in providing care and support to people leaving with dementia – over 80 per cent of its care home residents have been diagnosed with dementia.
Cedric Frederick, CEO of Avante Partnership and former basketball international for England said: “Despite recent negative media headlines, the good news is that the overwhelming majority of care and support provided to older people in our society is of an excellent standard.
"Through the proceeds of our bond issue, we intend to continue our important charitable work by investing in new modern dementia care facilities which will help improve the lives of both our residents and staff.”
Triodos Bank helped Avante develop the bond, which will be listed on exchange platform Ethex.