Acquisition funding to purchase a 49-bed elderly care home in Norfolk, which is part of a larger facility to purchase additional freehold properties
Nash Business Capital Ltd has provided £3,250,000 of acquisition funding to The Crossroad Group to finance the purchase of The Laurels, a 49-bed elderly care home in Attleborough, Norfolk. The Crossroad Group operates Hoyland Hall and Royal Court, two elderly residential care homes in Barnsley, which are held under leaseholds. The addition of The Laurels increases the total registered bed capacity of the Crossroad Group to 136 beds. The funding from Nash Business Capital is part of a larger £5,500,000 facility that is being made available to The Crossroad Group to finance the purchases of the freehold properties in Barnsley.
Care homes continue to play an important role in the care of the elderly and vulnerable. There are approximately 480,000 registered beds spread across 12,000 (residential and nursing) care homes across the UK as at April 2021 (source: Knight Frank). Demand, driven by an ageing population and reduced state provision of residential and nursing care, continues to grow with an additional 24,000 places required over the next 5 years (source: LaingBuisson).
The Crossroad Group was advised by Kuits. Nash Business Capital was advised by Avonhurst LLP and Aequitas Accountants Ltd.
For more information, please contact:
Sanjay Mahtani: firstname.lastname@example.org
Nash Business Capital Ltd