Care homes deal
Bank backs Kingdom’s Fife expansion
Bank support is helping expansion of homes portfolio
Care home operator Kingdom Homes has acquired a property in Anstruther and is developing a new 40-room nursing home in Leven which will open in early 2018 and create 40 jobs.
Kingdom Homes is a family business founded in 1984 by Colin and Margaret Smart who have been providing care for the elderly in Fife for more than 33 years.
The group operates 10 residential and nursing care homes in Scotland, providing 416 beds and employing 514 staff.
HSBC has provided £20m to back the latest expansion. Kenny White, relationship director at the bank, said: “We have great confidence in Colin and Margaret’s knowledge of the sector and supporting their ambitious growth plans.”
Mr Smart, managing director, said: “We’re an evolving business and with each acquisition comes new opportunities and challenges.”
This expansion follows other investments made by the Group over the last 18 months.