Woodlands Care Group, has announced it intends to raise £3 million to develop a new property by issuing mini corporate bonds.

The group which specialises in providing care for elderly people with dementia is constructing a new 55-bedroom property in Bolton which is due for completion in the summer.

The corporate bonds will offer an opportunity to invest in a secured bond which will yield an attractive rate of interest and for a term of between three and five years.

Co-founder, Sam Lancaster, believes the investment gives people the opportunity to make a positive and proactive way for people to make a real difference to those suffering with dementia.

“Our initial research has shown that the bond issue is likely to appeal to investors whose family or friends have been affected by dementia experiences,” said Mr Lancaster.

This presents a truly ethical investment alternative to those seeking an inflation beating return on savings.”

The new development intends to provide a high quality of care in a fully fit purpose facility in an area where demand for care has surged.

“We are in a position to raise the £3 million required to complete this new building from conventional sources, but we decided to offer bonds to the general public, giving everyone an opportunity to participate and also enable our fees to be extremely competitive,” added Mr Lancaster.

“We seek to care for those with dementia in a friendly and happy environment, where the care required is tailored to individual needs and not standardised.”

The new care home in Westhoughton, Bolton, is likely to contain many private individuals paying for their own care as well as those who are sent there by the local North West authorities.

The care group has used property investment specialists, Best International, to issue the bond on their behalf and Chief Executive of Best International, Brad Lincoln, said the ethos and style of management at Woodlands was a reason why they became involved.

“Amongst the reasons that we became involved with Woodlands Care Group is that we are supportive of the ethos and style of the management team that are developing this new high quality dementia care home,” said Mr Lincoln.

“Basically, mini corporate bonds are a type of loan that investors make to companies and our role is to ensure that the interests of all investors are protected throughout the term.”

Construction on the 26,000 sq ft home began last spring and the first residents will move in to the property in the summer.