MACC Care Group has secured a £14m loan from Broadwood Capital to fund the development of a new care home in Staffordshire.
The 21-month facility will be funded via Broadwood’s later living sustainable construction finance fund. The loan will support the ground-up construction of a luxury purpose-built care home providing 80 ensuite bedrooms.
The development secured planning permission in 2024 and is scheduled for completion in the summer of 2026.
Naz Nathani, founder and CEO of MACC Care Group, said: “We are delighted that Broadwood is providing the full development finance to allow MACC to deliver a best-in-class, future-proofed and highly sustainable care home in a part of the Midlands with a significant undersupply of care beds. It is great to be working with Dan and the Broadwood team again.”
Dan Smith, CEO of Broadwood Capital, added: “With continued pressure on later living throughout the UK, this is a welcome addition to the development pipeline. As long-term advocates of a sector which is socially conscious, sustainable and structurally in high demand, we remain keen to fund similar projects and to support the construction and development of much needed new facilities.”
