Ex-Modus men move into supported living

SPECTRUM Retail Management is to move into the market for providing supported living accommodation after securing a £785,000 loan from The Co-operative.

The company, which is run by David Lockhart and Peter Macfarlane following a de-merger from Manchester-based property group Modus in 2009, is to use the funding to build five residential properties on The Wirral which will be specially adapted to help adults with learning difficulties to live more independently.

The homes are being delivered alongside registered provider BeST and Urmston-based D2D Construction.

Spectrum Retail Management provides fund and asset management services and carries out debt advisory work.

Mr Lockhart said: “We are very grateful to The Co-operative Bank and more specifically Ian Heesom and the team at the South Manchester CBC, who have a good understanding of our business and our aspirations.

“This project marks the start of much bigger plans for our company in this sector and we look forward to working closely with the bank over the next few months to see them realised.”