The construction and renovation of a brand new care home on West Road in Newcastle has reached the final stages of development thanks to the completion of a funding deal from The Royal Bank of Scotland (RBS).
North East care home operator, Solehawk Limited, has spent the last twelve months working on the project which has seen them demolish their existing care home, Ashton Court, to begin construction and redevelopment work on a larger capacity facility which is expected to cost in the region of £3m. It is hoped that the new property, which has been increased from a 30 to a 45 en suite bedroom care home, will be ready for residents to move in to this October, creating 60 new jobs.
RBS has supported the Ashton Court re-development project with a fee free loan under the banks Government backed Funding for Lending Scheme (FLS). The scheme has been specifically designed to offer more support to SME’s by making borrowing more affordable. Under the scheme businesses can take advantage of loans with lower interest rates and no arrangement fees.