Octopus Real Estate, part of Octopus Investments, has signed a forward funding agreement for the development of a care home in Hipperholme, Halifax, West Yorkshire. The £14.5m purchase will provide 72 beds to Burghley Care, the joint venture partnership between care home operator Park Lane Healthcare, and developer Torsion Care.
Park Lane Healthcare is a new operator joining the Octopus Healthcare Fund. The new care home is expected to reach practical completion in August 2026.
Max Weitzmann, investment director, care homes, Octopus Real Estate, said: “This new care home will not only provide much-needed beds in Hipperholme, but will also set a national benchmark for sustainable and high-quality care facilities; of key importance to Octopus as we are committed to delivering 100% net zero care homes by 2040.
“The agreement marks the continuation of our relationship with well-positioned developer Torsion Care, whilst providing an excellent opportunity to bring Park Lane Healthcare into the Fund, along with Burghley’s strong pipeline of sites across the region.”
Chris Lane, chairman of Park Lane Healthcare, said: “This project marks an exciting milestone for Park Lane Healthcare as part of our joint venture with Torsion Care. Through Burghley Care, we’re combining decades of operational expertise with innovative development capability to deliver a new standard of care.
“The purpose-built home in Hipperholme is just the beginning of what we believe will be a transformational pipeline across the region, offering the highest quality care and addressing increasing demand for residential support.”
Send feedback to Akanksha Soni
Follow Estates Gazette
