Home Legal & Insurance Beyond Corporate concludes £8m refinance deal for New Care

Beyond Corporate concludes £8m refinance deal for New Care

Fast growing Manchester-based law firm Beyond Corporate has successfully concluded an £8 million refinance deal for New Care with Yorkshire Bank.

The deal covers New Care’s latest care centre, Grosvenor Manor, which opened recently on Heath Lane, on the edge of Chester city centre.

Initially funded with a loan from Heritage Square (part of Puma Investments), the state-of-the-art 81 bed care centre is now build complete, has its CQC certification and is officially welcoming its first residents.

The re-financing will support the project during its first few years of trading as it seeks to establish itself in the area and set a new benchmark for quality care in Chester.

CEO at New Care, Chris McGoff, said: “It’s great to officially open the doors to Grosvenor Manor, our fourth ‘new generation’ care centre in the UK. Response from investors and the local community has been fantastic and we are grateful to Yorkshire Bank for providing us with the necessary finance to get the home off to a great start during this critical initial period.”

Associate Director at Yorkshire Bank, Andrew Boggis, commented: “We are delighted to provide funding to support New Care in its expansion into Chester. New Care is a professional developer and operator with a proven track record and we are happy to help facilitate their vision for future projects. The directors and employees should rightly be proud of what they have delivered with Grosvenor Manor, it is a fantastic care facility that really sets new standards in Chester.”

Associate Director at Beyond Corporate, Nina Latham, led the deal on behalf of New Care. She said: “It is a pleasure to work with New Care, and the wider McGoff Group, and see this latest care home open to such a wonderful reception in Chester. We continue to develop our partnership with the McGoff Group and look forward to supporting them with further projects in the future.”

Claire Shepherd from Squire Patton Boggs led the deal on behalf of Yorkshire Bank, with Brian Morton from Optimum Healthcare Solutions providing specialist healthcare advice on the re-finance to New Care.

New Care is one of the UK’s fastest growing development-led care home operators. Catering for the aspiring needs of its residents, all homes provide high quality, person-centred care and an exceptional clinical offering in an expertly designed purpose-built environment. For further information on New Care and its care homes across the UK, please visit www.newcarehomes.com.

Part of Beyond Professional Services Group, Beyond Corporate is a young and dynamic law firm with a genuinely different approach. Fundamentally honest with strong core values that focus on loyalty and inclusion, the boutique practice aims to go above and beyond what is usually expected from a law firm to provide straightforward, transparent and customer-focussed advice, with style and personality, for its largely entrepreneurial client base. For further information, please call 0161 507 7110 or visit www.beyondcorporate.co.uk.