The Scotsman

Glas­gow property devel­oper lands funds

- By SCOTT REID Business · Investing · Glasgow · United Kingdom · Scotland · Morar

A Glas­gow-based property devel­oper has se­cured a fresh €40 mil­lion (£36m) fund­ing pack­age to ex­pand and de­velop its re­cently launched care home and re­tire­ment liv­ing di­vi­sion.

The fund­ing from an un named Euro­pean inv es­tor, which is sub­ject to a nondis­clo­sure agree­ment, is in ad­di­tion to the £50 m or so that Sim­ply UK has re­ceived over the past two years. It will be used to fa­cil­i­tate fur­ther ex­pan­sion of the Mo­rar Liv­ing port­fo­lio of“state-of-theart” care homes in Scot­land and across the rest of the UK.

Sim­ply said it had am­bi­tious growth plans and was tar­get­ing hav­ing more than 1,000 beds across the UK by the end of 2022, with 350 beds com­ing to the mar­ket in 2021 and a fur­ther 500 dur­ing 2022.

Manag­ing di­rec­tor Gary Sharp said: “With the back­drop of Brexit, se­cur­ing over­seas in­vest­ment is an enor - mous shot of con­fi­dence in the Scot­tish health­care and se­nior liv­ing mar­ket.

“This ad­di­tional fund­ing high­lights the con­tin­ued con­fi­dence that in­vestors have in our busi­ness. It will pro­vide the nec­es­sary finance to en­able Sim­ply to launch, sus­tain and de­velop high qual­ity care homes through Mo­rar Liv­ing. We aim to se­cure fur­ther fund­ing in the re­gion of £100 mover the next two years.”

Linda Me­ston, di­rec­tor of care at Mo­rar Liv­ing added: “Our strict non-covid ad­mis­sion pol­icy, along with a range of other health and safety mea­sures, in­clud­ing ther­mal imag­ing, tem­per­a­ture checks and air flow man­age­ment has en­sured the health and well­be­ing of our res­i­dents.”

 ??  ?? 0 Gary Sharp: ‘enor­mous shot of con­fi­dence’
0 Gary Sharp: ‘enor­mous shot of con­fi­dence’

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