Bank of Ireland lends £9.5m to McGoff care homes

New Care Projects LLP has refinanced the Manorhey Care Centre in Trafford and raised finance to build a new 84-bed facility in Timperley, near Altrincham.

The care home operator was set up in 2007 by the Altrincham-based McGoff family, better known for the McGoff & Byrne building contractor.

Chris McGoff, managing director of New Care LLP, added: "The unprecedented speed with which the Manorhey Care Centre filled upon opening in September 2010 is a reflection of the need for high quality purpose built care homes, and we are pleased that Bank of Ireland UK recognised this and are able to share our vision for care in the region."

Manchester law firm George Davies advised the Bank of Ireland.

Your Comments

Its an interesting one this. With the massively ageing population in the UK, it doesn’t take a genius to work out that provision is going to need to be made. It would be interesting to see the stats (does PNW have any access to this?) but I’ll bet that more and more homes/sheltered communities etc are going to need to be built. If this isn’t an opportunity for the somewhat beleagured property community, then I’d like to know what is!

By TheFuture

i agree steve

By cj

Good comment by The Future. Good to see a bank actually providing funding for development, hopefully we’ll see more.

By The Present

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