Octopus Real Estate, through its healthcare fund, has bought Manor Farm care home in North Yorkshire.
The 80-bed home, which will offer a mix of residential and dementia care, is currently in development and has been acquired by Octopus for £15.5m via forward funding.
Manor Farm is due to open to residents in spring 2025. Upon completion it will be operated by Sandstone Care Group on a 35-year lease.
Chris Wishart, care home origination director at Octopus, said: “We can’t wait for development to start on what will be a purpose-built, fully electric fit-for-the-future care home that typifies the quality of assets that we seek to invest in across the UK.”
James Parkin, co-founder and director at Sandstone, said: “Our growing portfolio of care homes provide a range of residential, nursing and dementia care services within modern, vibrant communities. Our focus is always on providing unrivalled person-centred care for our residents in a welcoming environment, and Manor Farm in Old Malton will be no different.”
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