Residents’ shop opens

ASTUNE Rise Care Home in Eston is celebrating the opening of a new shop, which will be managed by an 88-year-old resident.

return in terms of the net income to be gained after commissioning and staffing a mature occupancy is critical to confirm the viability is achievable and debt can be repaid.

Lenders will seek this detail and will undertake a review of the proposal with the benefit of wider comparables and market insight.

A key part of this is the ability to ‘stress test’ assumptions and work on scenarios to validate the project can still be successful.

Fortunately there are very experienced professionals such as architects, consultants, contractors, valuers, accountants, lawyers and lenders who have proven experience of how to plan, cost, build and finance projects in the sector.

From a small extension to a full new purpose-built care home there is a lot of support available to help pull the plan together.

The key learning is to make sure that if you are undertaking a property improvement or development that engagement, and the right advice, from proven specialists in what you are proposing is undertaken from the start.

So actually despite the uncertain and disruptive economic times it is pleasing to advise that the team at Virgin Money continues to see good opportunities for considered investment and remains active in providing finance for viable projects in the care sector.

n Derek is the head of health and social care sector at Virgin Money.

‘Lynn’s Loot’ was created by activities co-ordinator Lynn Dobson, following suggestions from residents at the home.

Once the shop was established and filled with stock, resident Betty, who used to work in shops across the area before she retired, volunteered to manage the store.

This includes operating the till that was donated by the local community and she even proudly displays her name badge on her apron.

The shop stocks a wide range of goods including magazines, sweets and birthday cards.

The profits raised will go towards re-investing in stock and contributions to the residents’ fund which supports the home’s activities.

Manager Caroline Bowstead said: “It’s fantastic that Betty has volunteered to run our in-home shop and it was only right that we recognise her hard work.

“We’ve had help from residents in setting up and getting the shop ready, so it has been all round team effort and I’m looking forward to seeing it in frequent use.”

Betty won the staff star of the month award in May and was presented with a bouquet of flowers alongside other treats in recognition of all her hard work.

She now has her photo displayed on the staff board with the job title ‘store manager’.