NHP is resetting rents for the Southern Cross homes its new company, HC-One, will manage.
HC-One, the joint venture between NHP and Court Cavendish, will run one-third of all Southern Cross homes from 1 November. NHP has put aside £30m for the company.
Jeremy Jensen, NHP director, said: “The funding is in the form of capital and intercompany loan arrangements to ensure that there are sufficient funds which have been ring-fenced to invest in the quality of care going forward, and to readdress the lack of investment in these homes over recent years.”
Jensen said NHP was in the process of resetting rental levels to a “more sustainable level to ensure the business is viable”.
