Care home project creates 100 jobs
A care home has been completed in Knottingley, creating 100 jobs and transforming a vacant site in the town, with the support of a seven-figure loan from Lloyds Bank.
The 85-bedroom Holyrood House on Spawd Bone Lane is on a site previously occupied by a council-run facility and a former pub, which were removed before construction began in 2013.
Holyrood House is run by Crown Care, a family-run company which operates 13 residential care homes for the elderly across the North East and Yorkshire, focusing on high-end facilities and specialist nursing care for residents. The company also operates three care homes for adults with learning disabilities in Northumberland.
Baldev Ladhar, chief executive of Crown Care, said: "We concentrate on offering high specification care for our elderly clients and due to the constant demand for this type of service the business has been expanding steadily since we started it back in 1989, and we're already looking at new sites to develop."
In order to finance the construction of Holyrood House the company approached Lloyds Bank Commercial Banking for the seven-figure loan, which was provided under the government-backed Funding for Lending Scheme.
Malcolm Swan, senior healthcare banking consultant for Lloyds Bank, said: "Crown Care is an excellent example of how a well-run care company can continue to expand and grow in what is a very competitive sector."
Sintons law firm worked with Crown Care in the acquisition, financing and development of Holyrood House.
Alok Loomba, partner in the real estate team and healthcare expert at Sintons, said: "We are pleased to have assisted Crown Care in realising yet another new development as it continues in its expansion and achievement of its goal to be a nationally recognised provider of superior care facilities."