Downing is on track to raise a £3m Bond to fund a brand new high quality care home for the elderly in Edinburgh, developed by Care Concern Group.
Downing Bonds are part of experienced London-based investment manager Downing LLP, which invests in a wide range of UK business sectors including renewable energy and healthcare.
Most of Downing Bonds invest in established UK businesses that have already come through one of Downing’s previous investments, making these Bonds the next natural step for funding. Downing asset-backed Bonds, along with their due diligence process and typically low loan-to-value (LTV), seek to help reduce risk for investors.
Manor Grange care home
The Manor Grange care home, located in the Corstorphine area of Edinburgh, opened its doors in late October 2016, with the original redevelopment and refurbishment of the care home having been funded by Downing Bonds wider investment business, Downing LLP. The sizeable new funds currently being raised by Downing Bond investors will help support the ongoing operation and day-to-day running of the care home.
Downing and Care Concern Group have been working together for over 4 years, with Downing providing more than £30 million of investment to its projects. Care Concern currently operates over 20 residential care facilities across the UK, with a material presence in Scotland.
Julia Groves, Head of Downing Bonds, said: “Downing Bonds are a simple type of investment and, provided investors fully understand the relevant risks, they can offer attractive returns in the current climate of low interest rates and rising inflation.
Moreover, at Downing Bonds we only invest in established UK businesses, making our Bonds a great way to see your money make an impact in your local area.
Manor Grange is the first of what we hope will be many opportunities in the residential care sector for Downing Bonds, as we see a lot of potential here to help encourage greater quality care for the elderly. The Scottish market in general also holds exciting prospects for us too, with our Bond investors having just recently provided £1.25million funding for a newly opened hydro power station in Argyll.”
Manpreet Johal, CEO, Care Concern Group, added: “Finding more traditional forms of funding is still a challenge for many businesses in both the care sector and beyond. We pride ourselves on providing the best possible care facilities and comfortable surroundings for our residents and thanks to the support of Bond investors we are confident that Manor Grange will be able to deliver this high standard of service. With our doors now open, we are looking forward to becoming an important part in the local Corstorphine community.”