Retirement villages get £120m boost

(L-R): Nick Abbey, ExtraCare; David Hykin, Lloyds Bank; Andrew Connors Lloyds Bank; and Chris Skelton ExraCare.
(L-R): Nick Abbey, ExtraCare; David Hykin, Lloyds Bank; Andrew Connors Lloyds Bank; and Chris Skelton ExraCare.

RETIREMENT village operator ExtraCare Charitable Trust has agreed a £120m deal with Lloyds Bank Wholesale Banking & Markets.

ExtraCare has communities in Milton Keynes and the funding boost will support growth in the midlands and north.

The charity, which has retirement locations at Japonica Lane, Brickhill Street, Willen and Chalkdell Drive, Shenley Wood, has growth plans which will see at least five villages added over the next five years.

Nick Abbey, chief executive of ExtraCare said: “Older people are increasingly looking for options that allow them to maintain an independent lifestyle while having easy access to care, if and when they require it. The fact that the Lloyds Bank team understands our goals and our market means we’ve been able to secure a competitive package.”