Octopus Real Estate has provided £35m of funding for the development of three new care homes in Norfolk and Leicestershire.
Combined, these homes will provide more than 200 bedrooms and form a part of the Octopus Healthcare Fund’s portfolio of more than 100 care homes.
Two of the care homes, located in New Lubbesthorpe in Leicestershire and Hunstanton in Norfolk, are currently being constructed by Synergy Care Developments, with completion due in 2025.
The third facility, in Hinckley in Leicestershire (pictured), has 67 bedrooms and was recently completed by Care Build Group.
Family-owned care home group Acacia Care will operate each home on a long-term lease.
Max Weitzmann, investment director at Octopus, said: “We have now worked [with Acacia] on the development of five elderly care homes across the UK, totalling more than 350 bedrooms. It is another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes that are fit for the future.”
Trowers & Hamlins acted for the fund on all three acquisitions.
Image from Octopus Real Estate
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