Octopus Real Estate has formed a long-term strategic partnership with Anavo Group to fund the development and operation of elderly care homes across the UK.
The partnership has acquired two developments in West Sussex and Cheshire consisting of 126 beds. This includes Mount Hermon Care Home, a 66-bed scheme in Lancing, West Sussex, which Octopus is forward funding at a cost of around £15m. It is expected to open in early 2024.
The other acquisition is Brampton Lodge, a 60-bed purpose-built care home in Warrington that Octopus recently bought from Safe As Houses.
Upon completion, Anavo will operate both homes on 35-year indexed leases.
Edward Moore, director at Anavo Group, said: “The team at Octopus has a deep understanding of the care sector, and this partnership will allow us to further develop our portfolio and provide exceptional service to residents across the UK.”
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