MACC Care Group has secured a loan from Broadwood Capital to fund the development of a new care home in Redditch, Worcestershire.
The 21-month facility will support the ground-up construction of a purpose-built care home on a 1.3-acre site, comprising 98 ensuite bedrooms, which will provide residential, nursing and dementia care.
The site currently houses a vacant office building and the new care home facility is scheduled for completion in early 2027.
The loan will be funded via the Broadwood Later Living Sustainable Construction Finance Fund.
Dan Smith, CEO of Broadwood Capital, said: “MACC is an operator with a proven business model and clear market proposition, and we are happy to help play our part on its continued growth path. This is yet another quality scheme in an under-served market and we’re pleased to help facilitate new development and adding to the pipeline of new care home provision.”
Naz Nathani, founder and CEO of MACC Care Group, added: “This is our third loan with Broadwood which is a key supporter of MACC’s growth. We value access to an experienced and knowledgeable funder which understands both the development process and the intricacies of the care home market.”
