finance

Parklands Care Homes secures £20 million funding for expansion plans



Parklands Care Homes has secured a £20m sustainable finance funding from Triodos Bank UK to help fund its expansion plans.

The independent Scottish care provider operating across Highland and Moray, has received the funding for its nine existing homes, as well as a new multi-million-pound care project in Inverness.

Construction on the new 58-bed care home in Milton of Leys, Inverness, is expected to begin shortly.

A new later living retirement village comprising 11 properties for independent living will be built alongside the new care home.

The arrangement also covers a refinance of Parklands ’ existing portfolio across the north of Scotland.

This includes the new Eilean Dubh care home in Fortrose, which opened in early 2021. The state-of-the-art facility includes 40 ensuite rooms and community-focused facilities, with views across the Moray Firth.

The finance from Triodos Bank brings together two organisations that have worked across the care sector for more than 25 years.

Ron Taylor, managing director of Parklands Care Homes, commented: “Our forthcoming investment in Inverness will be our largest and most innovative, combining the traditional model of residential care with independent later living support, and will provide an important economic boost for the city, generating new jobs and supporting the local supply chain.”

Rob Keegan, business banking regional manager for Scotland at Triodos Bank UK, added: “The social care sector is one which has a huge impact upon many families’ lives, and we’re pleased to support organisations like Parklands that are delivering compassionate, award-winning care. All of its homes are rooted in their communities and look to make a real difference to people across the north of Scotland.”

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