Member Article

Knottingley care home creates 100 jobs after seven figure investment

A Knottingley care home is set to create 100 jobs after a seven figure investment from Lloyds Bank.

The 85-bedroom Holyrood House on Spawd Bone Lane was 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 officer of Crown Care, said: “Holyrood House is a modern and welcoming home for our residents, as well as an impressive addition to our portfolio, and we’re proud to have been able to expand our business while also making a positive contribution to Knottingley.

“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, under which customers receive a one per cent discount for the life of the loan.

Malcolm Swan, senior healthcare banking consultant for Lloyds Bank Commercial Banking, 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.

“Our specialist healthcare banking teams regularly work with businesses like Crown Care and are familiar with the unique challenges in the industry, which enables them to offer support and guidance that is tailored to the specific needs of each customer.”

Sintons Law firm have 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.”

This was posted in Bdaily's Members' News section by Clare Burnett .