A Lancashire domiciliary care agency is expanding into the residential homes market with support from Yorkshire Bank.
Seva Line Ltd, which has been providing home care services in the Bolton area for 20 years, recently established a sister company, Seva Line Care Homes Ltd. The new firm has now purchased its first property, Hurstead House Nursing Home in Rochdale, after receiving a significant funding package from Yorkshire Bank to assist with the sale price.
The deal was facilitated by Garry Birchall, business development manager with the Bank’s Business and Private Banking Centre in Bolton.
Seva Line Ltd’s management team formed Seva Line Care Homes to apply their extensive experience of domiciliary care services to the care home sector. The business aspires to offer residents the same level of dignity and independence as they would enjoy within their own homes.
The company’s first acquisition, Hurstead House Nursing Home, in Rochdale, enjoys an excellent reputation locally for its high standard of accommodation, quality facilities. The team, which includes a manager, 6 registered nurses, and 27 care workers employed at the home, have been there since its inception.
With the 30-bedded property enjoying an occupancy rate of more than 90%, its new owners are already making plans to extend the home and create new jobs. The company also aims to add further care homes to its property portfolio as opportunities arise.
Ish Patel, managing director of Seva Line Care Homes, said: “Acquiring Hurstead House Nursing Home is the first step in our long term plans to create a chain of high quality care homes.
“From our work in domiciliary care, we know that some elderly people have reservations about staying in care homes. But we want to change their minds and show them that it is possible to receive the same care within a residential setting as they would receive in their own houses.
“Although we are new to the sector, Yorkshire Bank understands exactly what we are trying to do and has been very supportive of our plans. The advice offered by its knowledgeable team has also helped save time and money during the deal process.”
Derek Breingan, head of healthcare at Yorkshire Bank, said: “We welcome the opportunity to help Seva Line Care Homes to acquire its first property.
“With more than 30 years’ of experience of providing care services, Ish Patel is well qualified to enter the residential home sector.
“We look forward to working in partnership with his new company as it develops and expands.”