The Brendoncare Foundation Social Investment Fund
The Brendoncare Proposal
We have developed a new way of delivering care to older people that keeps them in their own home no matter how frail they may become without ever having to move to receive care. We call this concept 'Total Care Living'.
This model of care consists of around 40 dwellings and a care centre of around 40 nursing beds together with a range of on site services - a restaurant, library, fitness suite, hairdressing salon and shop - to promote independence and 'normal living'.
We wish to replicate this model throughout Southern England at a growth rate of one new care centre per year. Each centre costs £15m (at today's prices). To achieve our target of completing one a year requires a maximum fund of £25m.
Outline of the funding concept
The proposal is based on an investment rather than a fundraising approach, with the following key components:
- We seek Charitable Trusts and individuals that are prepared to invest in a Social Investment Fund on the basis that the principle sum invested will be repaid at the end of (say) 10 years, together with interest of up to 4% (depending on the selling prices of the dwellings)
- Brendoncare would secure conventional mortgages to fund the freehold and nursing bed element on the completed complex once the dwellings had been sold.
The development model
This ground-breaking concept involves asking Charitable Trusts, Foundations and individuals to invest risk capital, at a nil or very low rate of return, rather than seek grants from them. The model combines the ideal solutions for care and finance.
The Outcome
- Brendoncare care centre development at the rate of one a year
- Care centres being built where care is needed
- Purpose built centres truly meeting the needs and wishes of older people.
This is a very brief outline of our plan. For more detailed information please contact Ron Staker at rstaker@brendoncare.org.uk or on 01962 852133.