Leeds care home to create 30 new jobs following property investment

A Leeds-based care home and domiciliary care firm is set to create over 30 jobs after purchasing its existing rented premises.

After acquiring Park Lodge Nursing Home in Roundhay from a national care home operator in 2012, Villa Care inherited considerable rent repayments, making it difficult to improve the home and expand the business beyond its current operations.

But with financial support from 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, Villa Care has now been able to reduce its overheads, enabling the company to reinvest the freed-up capital back into the business.

Villa Care is now planning to upgrade Park Lodge and increase the amount of accommodation available to meet a rising demand for nursing care services in the community.

The business will also be extending its domiciliary care service, Villa Home Care, which will enable it to reach significantly more vulnerable people in the community through its contract with the NHS.

To support the expansion plans, the business is planning to recruit in excess of 30 carers and administrative staff, bringing the total workforce to more than 100.

Howard Taylor, director at Villa Care, said: “We’d been aiming to purchase the property in order to reduce our overheads and expand our operations. Funding of course is a central issue to such a plan. The team at Lloyds Bank suggested we apply for the Regional Growth Fund grant which, coupled with the financial support the bank provided and equity, enabled us to make the purchase a reality.

“Buying the freehold has given us the opportunity to exit a burdensome structure and enter into an arrangement that allows us to control and invest in the future of the company.

“In expanding the business we’ll not only be able to improve the quality of the property for the comfort and enjoyment of our residents, but we’ll also be creating valuable employment opportunities for the local community.”

Evan Griffin, relationship manager at Lloyds Bank Commercial Banking, added: “This purchase marks an important milestone for Villa Care and we’re pleased to have supported the business as it pursues its ambitious growth strategy.

“With any major business decision, it’s important to seek external support. Our team of relationships managers are always on hand to provide guidance tailored to individual business goals. We’ve also pledged to grow our net lending to SMEs by £1bn every year until 2017 to help more firms access the funds needed to grow.”