Triodos and Avante team up for nursing and dementia with £5m charity bond
Monday, October 28th, 2013 By
Sustainable bank Triodos is working with the Avante Partnership to raise £5m through a five-year charity bond for new nursing and dementia facilities.
The social investment is offering a 5% gross fixed return per year during its lifetime. Minimum investment is £2,000, and £500 for Avante employees.
The money will be used to build a freehold residential nursing home on the Isle of Sheppey in Kent – the first on the island. The new 75-bed home will provide dementia care facilities allowing locals to stay on the island and in their local community whilst being treated.
Dan Hird, head of corporate finance at Triodos, said the bank was “delighted” to be working with Avante.
“They are a great example of how compassionate social care can be delivered through a sustainable model which places quality of life for clients at its heart”, he said.
“An investment in the Avante bond enables investors to be part of the solution to the chronic shortage of high quality social care provision.”
Avante noted that as the population lives longer, the demand for high quality care services and facilities will increase. As a country we are also likely to see an increasing number of people with complex age-related health conditions.
Recent scandals raging from poor care and hygiene standards to abuse of residents in some private care homes recently hit headlines. The charity’s CEO challenged the negative media views.
“Despite recent negative media headlines, the good news is that the overwhelming majority of care and support provided to older people in our society is of an excellent standard”, said Cedric Frederick.
“Through the proceeds of our bond issue, we intend to continue our important charitable work by investing in new modern dementia care facilities which will help improve the lives of both our residents and staff.”
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