The specialist lender Atelier has provided a £10.7m loan to the fast-growing care provider MACC Group to finance the development of a 71-bed care home in Leighton Buzzard, Bedfordshire.
Birmingham-based MACC Group develops and operates purpose-built care homes that provide high quality residential, nursing and dementia care for older people. Its Leighton Buzzard development will be its first in Bedfordshire.
Construction work is now underway and is due to be completed at the end of 2024. The state-of-the-art facility will offer comfortable, safe accommodation, along with personal and specialist care to its residents, and is set to create up to 60 new jobs for the town.
Atelier’s 25-month, fixed-rate loan facility enabled MACC Group to acquire a prime development site on Leighton Buzzard’s Hockliffe Road. The facility is now fully funding the construction of the care home using modern, energy-efficient materials and will also provide a stabilisation period for the development once building works are complete.
Dr Naz Nathani, director of MACC Group, commented:
“A town of the size and stature of Leighton Buzzard deserves a high quality care home facility. MACC Care develops aspirational, market leading care homes with future-proof design and specifications that are a perfect blend of thoughtful design, technology and luxury.
“When complete, our Leighton Buzzard care home will be a flagship facility for the town and play an important role in the community by creating scores of new jobs for local people.
“Atelier’s team have an entrepreneurial, ‘can do’ and development-friendly attitude and have been a pleasure to deal with; we look forward to future partnership with them.”
Rav Kudhail, lending manager at Atelier, added:
“Since launching in 2004, MACC Care has gained an exceptional track record by developing and operating a string of thoughtfully designed, high quality care homes that are home to more than 1000 people.
“MACC Care’s accommodation is all purpose-built and the quality of its offering is central to its success. It has been a pleasure to work with Dr Nathani and his team on their Leighton Buzzard development, and we look forward to supporting the company’s finance requirements as it rolls out its ambitious growth plan across the UK.”