Two Yeovil care homes that closed down at the end of last year will be transformed into state-of-the-art care communities after being acquired by The Care Home Group.
Latimer Lodge and Tyndale Nursing Home were closed after the CQC rated them as inadequate, but will be revamped into homes offering en-suite care studios, a hair and beauty salon, communal spaces and landscaped gardens, the company says.
The Care Home Group, a subsidiary of Care Home Invest, is also offering residents the opportunity to purchase their own care studios in order to become owner-occupiers.
Sean Murray, CEO of The Care Home Group, said the acquisition and redevelopment would create flagship properties that point the way for the future of the company.
“We are committed to setting a new care home standard through our investment in technology, innovation, people and property and, by re-opening the refurbished homes under our management, we plan to showcase the range of improvements under those four criteria that we will be bringing to all our homes in 2016,” he said.
“We want to give people the opportunity to buy their own care studio so that they can continue to receive the care they want in a luxurious and homely environment,” he added.
Care Home Invest’s strategy is to acquire operational and closed homes and renovate them into premium properties with suites that are sold to residents and then leased back to The Care Home Group for 10 years.
The company promises a “truly hands-off investment that generates a fixed minimum 8% return from day one, whether the suite is occupied or not.”