A Leeds based care home and domiciliary care company is planning to create more than 30 jobs after purchasing its existing rented premises.
Villa Care acquired Park Lodge Nursing Home in Roundhay from a national care home operator in late 2012. With the purchase however, the company inherited considerable rent repayments, making it difficult to improve the home and expand the business beyond its current operations.
Supported by banking partner, Lloyds Bank Commercial Banking, Villa Care obtained a seven figure commercial loan and six figure Regional Growth Fund grant enabling the company to buy the freehold of the property.
As owners of the property, the business has now been able to considerably reduce its overheads, enabling Villa Care to reinvest the freed-up capital back into the business. It will now upgrade Park Lodge and increase the amount of accommodation available to meet a rising demand for nursing care services in the community.
Pictured: Howard Taylor, director at Villa Car, (left) Evan Griffin, relationship manager at Lloyds Bank Commercial Banking (right)