The £3.2 million acquisition of a care home in Staffordshire will see 74 jobs saved, after receiving backing from Yorkshire Bank.
The Elder Homes Group has bought its 16th home after taking over Basford Hurst Park Nursing and Residential Home in Station Road, Cheddleton, Leek, safeguarding the jobs of 74 full and part-time staff and creating a further 20 new jobs.
The 85-bedroom home will now undergo an extensive refurbishment programme, incorporating the creation of two smaller male only and female only self-contained units for elderly people with more challenging mental health issues, after the group received financial support from Yorkshire Bank’s Business Banking Centre in Nottingham.
David Messenger, Managing Director of Elder Homes Group, said: “We originally owned the home from 2001 through to 2007, however a deal came about for us to buy it back, which we have. Yorkshire Bank provided the funding to buy the property as well as funds for a complete refurbishment and building work.
“We will be redecorating throughout the home, and replacing furniture and carpets as well as creating the two smaller specialist units with their own lounges and dining rooms for male and female residents – which is a template we’ve used in some of our other homes, and has worked well.
“Over the last three or four years we have re-developed our homes to cater for people with more demanding dementia so we have developed smaller units within the properties. This means that later in the year we will be looking to recruit up to 20 new nurses and carers.
“Yorkshire Bank has been very supportive of our plans over the last few years because they have confidence in our business after seeing the success of other homes they have helped us to fund.”
Sue Carter, business partner at Yorkshire Bank’s Business Banking Centre in Castle Meadow Road, Nottingham said: “The Elder Homes Group has a reputation for providing high-quality care for residents, many with dementia who need specific care.
“The group’s management is always planning ahead and Yorkshire Bank’s East Midlands healthcare team has been pleased to work with them on this acquisition.”
Elder Homes Group now has 800 beds located in Nottinghamshire, Staffordshire, Yorkshire, Manchester and Essex.