New charity bond will fund £5m care home

 

A new Charity Bond launched on Monday will use investors' cash to build a 75-bed freehold care home on the Isle of Sheppey for people living with dementia.

The five-year bond will pay 5 per cent a year and be offered by Triodos Bank in conjunction with social care providers Avante Partnership to raise £5m.

Avante already runs 15 care homes and community-based services and is a specialist in providing care and support to people who suffer dementia. The charity also supports people with a physical or learning disability and young people and families in the community.

Cedric Frederick, chief executive of Avante, said: "Through the proceeds of our bond issue, we intend to invest in new modern dementia care facilities which will help improve the lives of residents and staff."

Dan Hird, of Triodos Bank, said: "An investment in the Avante bond allows investors to be part of the solution to the chronic shortage of high quality social care provision."

However anyone thinking of investing in the bond should bear in mind the risks. For starters your cash will be locked away for five years, with little chance of selling it on through a secondary market. On top of that you'll have little protection for your cash if the charity goes bust.

The prospectus for the charity bond will be published on the Avante website on Monday at www.avantepartnership.co.uk

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