30 Leeds jobs as care company makes acquisition

LEEDS-BASED Villa Care has purchased its premises and is intending to create 30 jobs on the back of the acquisition.

It has acquired Park Lodge Nursing Home in Roundhay from a national operator. The initial deal in 2012 left it with considerable rent repayments.

Now, with the help of Lloyds Bank Commercial Banking, a seven-figure commercial loan and six-figure Regional Growth Fund grant have allowed the company to buy the freehold of the premises.

Villa Care will now be investing in a refurbishment of the building and an extension of their offering.

The extension will require an expanded workforce, bringing staff numbers to over 100.

Howard Taylor, director at Villa Care, said: “We’d been aiming to purchase the property in order to reduce our overheads and expand our operations. Funding of course is a central issue to such a plan.

“Buying the freehold has given us the opportunity to exit a burdensome structure and enter into an arrangement that allows us to control and invest in the future of the company.

“In expanding the business we’ll not only be able to improve the quality of the property for the comfort and enjoyment of our residents, but we’ll also be creating valuable employment opportunities for the local community.”

Evan Griffin, relationship manager at Lloyds Bank Commercial Banking, added: “This purchase marks an important milestone for Villa Care and we’re pleased to have supported the business as it pursues its ambitious growth strategy.

“With any major business decision, it’s important to seek external support. Our team of relationships managers are always on hand to provide guidance tailored to individual business goals.

“We’ve also pledged to grow our net lending to SMEs by £1billion every year until 2017 to help more firms access the funds needed to grow.”