Four care home deals announced by New Care

New Care

Four care home developments worth £50 million have been confirmed by Manchester-based New Care.

The developments include the launch of construction of the £10 million, 57 bed, Ashland Manor care facility in Sale, Manchester funded by HCP, a US institutional fund.

Construction has also begun on a £12.5 million, 76-bed care facility in Lytham, Lancashire funded by Octopus Healthcare.

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Meanwhile, planning consent has been granted for a £15 million, 77-bed care facility in Chester.

A £12.5 million sale and leaseback arrangement has also been clinched with Octopus Healthcare on The Grand (pictured), a recently completed 82-bed care home in West Bridgford, Nottingham.

Chris McGoff, CEO at New Care, said: “As part of the McGoff Group we have a unique ability to identify and acquire sites, design purpose-built care facilities, manage the planning process, build, operate and then maintain our care homes.

“Not only does this one-stop-shop approach naturally de-risk the funding process of our developments by creating stakeholder alignment via removing disconnected parties, such as arms-length consultants and contractors, but it is also creating untold efficiencies through our ability to value engineer projects at every step of the process.

“Our unique offering has resulted in a surge of investment interest from various lending institutions and we hope to capitalise on our strong track record and our growing brand as we take the Group further.”

 

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