A £5m charity bond has been set up to fund new facilities for people suffering from dementia.

Social care provider Avante Partnership is seeking to transform Barton Court, in New Road, Minster, by increasing the number of beds there from 32 to 75 and building space for new
nursing services.

The company says this would be the first development of its kind on the Island, and would support 40 full-time jobs, 30 part-time roles, and opportunities for six volunteers.

Avante has teamed up with Triodos Bank to raise the necessary money for the nursing home over the next five years.

The so-called ethical bank can only lend to charities and organisations that have a positive environmental, social or cultural impact, whereas mainstream banks are less likely to lend to
such groups.

“The nearest homes are in Sittingbourne and Newington and they have a huge waiting list, so it’s really vital that we get something here...” - Barton Court manager Karan Richards

The charity bond will offer investors the chance to sponsor the project in exchange for a fixed return of 5 per cent per year for five years.

There will be an incentive for employees to contribute to the scheme as they have the chance to invest a minimum of £500 but will receive the same return as private investors, who must put in at least £2,000.

Karan Richards, home manager at Barton Court, said nursing facilities were sorely needed.

She said: “At the minute there isn’t anything on the Island itself.

“The nearest homes are in Sittingbourne and Newington and they have a huge waiting list, so it’s really vital that we get something here.”

She added that having nursing facilities would improve services available to people on Sheppey, and create continuity and stability for the families of people with dementia.

Cedric Frederick, CEO of Avante Partnership, said: “Through the proceeds of our bond issue, we intend to continue our important charitable work by investing in new modern dementia care facilities, which will help improve the lives of both our residents and staff.”