A care home provider in Fife is set for expansion after agreeing a financial deal with Clydesdale Bank.
Rosturk House Ltd, which operates four residential care homes across the region – two in Kirkcaldy, one in Cupar and one in Lundin Links – is extending two of its properties in order to provide accommodation for more clients.
Clydesdale Bank has provided the family-run business, which was established in 1989, with £1.8 million to enable the extensions to take place, and to help the company meet growing demand in the local area for quality care provision.
The funding package, delivered as part of Clydesdale Bank’s Investing for Growth strategy - an initiative which helps successful businesses to grow - comprises loan and overdraft facilities.
Building work commenced at Rosturk House Ltd’s Peacehaven facility in Lundin Links earlier this year. The extension to the Victorian villa is scheduled to complete in February 2012, and will increase bed space at the care home from 26 to 40. A two-bedroom private facility for friends and relatives of the home’s guests is also being built, complete with its own kitchen and living room.
In Spring 2012, work on the company’s Wilby House premises in Kirkcaldy is due to begin. A further three bedrooms will be added to the traditional sandstone property, and work will also include a comprehensive refurbishment of the existing common areas including dining and living room facilities.
Earlier this year, Clydesdale Bank provided Rosturk House Ltd with £1.1 million to build a 12 bedroom extension to Marchmont in Kirkcaldy.
Rosturk House Ltd currently caters for 156 residents across its four care homes, and employs approximately 200 members of staff, including domestic workers, senior care assistants and cooks. In addition to Peacehaven, Wilby House and Marchmont, the business also owns Rosturk House in Cupar.
John Gaughan manages the business in partnership with his wife Susan and her sister Wilma McCarroll. John said: “Since we established Rosturk House Ltd in 1989, our approach has been to grow steadily, expanding the facilities we offer the local community and enhancing the services we provide.
“Our residents’ requirements are of paramount importance to us, and through their feedback we know that they are all extremely pleased with work that is underway and in the planning process.
“In looking to expand our business, we felt it was important to work with the correct finance partner, and Clydesdale Bank had a lot to offer in supporting our ambitions for the future of the business. We would like to thank the Bank for supporting our business, and for providing us with the facilities to make these new extensions possible.”
Simon Kerr, managing partner at Clydesdale Bank’s Edinburgh Financial Solutions Centre, said: “The high standard of care offered by Rosturk House Ltd is testament to the approach which John, Susan and Wilma take to running the business and to the quality of the staff they employ. This is reflected in the high ratings that the business has received from the Social Care and Social Work Improvement Scotland (SCSWIS).
“Having banked with Clydesdale for the best part of three years, we were delighted to offer the business further support as they embarked on the next stage of their development.
“We look forward to many more years of working with Rosturk House Ltd, and to helping the directors grow the business further over the long term.”
Clydesdale Bank launched its new business support initiative – Investing for Growth – to help successful businesses grow and develop. The support package offers both new and existing business customers a dedicated planning service and a more flexible approach to lending.
Loan repayment holidays, interest-only repayments and extended loan and credit facilities are just some of the flexible support options available under the Investing for Growth initiative which also includes a dedicated financial planning service.