Loan funds £5m Sheffield nursing home

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A £5m nursing home scheme development in Sheffield has clinched the vital funding it needs.

The Co-operative Bank is providing a loan to cover the entire cost of a 75-bed residential home for the elderly, specialising in dementia care, which is due to open in April 2011.

Woodhill Grange on Grimesthorpe Road, Sheffield, is being developed by Horizon Care Homes, a newly launched division of a family business headed by Laura Higginbottom.

Horizon Care Homes’ managing director Laura Higginbottom said: “My grandmother sadly suffered from Alzheimer’s in her later years. Once we accepted she needed full-time care, we looked at the possibilities and, frankly, we were thoroughly unimpressed with what we found.

“So, together with my sister Rachel and the rest of our family, we decided to provide the best residential care for elderly people, specialising in dementia. We wanted our company ethos to reflect that of a family business.

“It is important to have a personal relationship with your bank, and The Co-operative Bank is able to provide just that. Sadly, not many other banks are.”

Steve Clarke, senior corporate manager at The Co-operative Bank’s corporate banking centre in Leeds, which provided the funding, said: “A key part of our approach is to develop and maintain long-term relationships with customers such as Laura.

“ Even in today’s uncertain economic climate, we’re still very much open for business and lending to companies with impressive business strategies.”