Abbeyfield Society has signed a 30-year lease agreement on a £8.5m Castleoak care home development in Southampton.
The agreement follows Castleoak’s design and build of Abbeyfield’s Winnersh specialist dementia care home, winner of the Pinders Healthcare Design Award 2017 (see Abbeyfield’s Winnersh dementia home crowned as best new care home).
Richard Virr, Director of Development at Abbeyfield, said: “We chose to partner again with Castleoak as they have proven themselves as a trusted specialist developer, as well as a highly effective and reliable design and build team.
“This lease hold agreement affords us the opportunity to make the most of our funds. Development is a key enabler of our growth programme.”
Craig Currie, Chief Executive at Castleoak, added: “Castleoak offers a highly attractive, proven development solution to operators designed to minimise risk and ensure speed to market.
“We select new development sites following rigorous demographic and care gap analysis, and our in-house development team deals with acquiring the site and achieving planning consent.
“In parallel, our specialist design and build teams apply extensive care sector operational design and construction expertise to create a commercially viable development ready for operators.”
Abbeyfield’s Hale Court retirement living apartments in Tunbridge Wells were also completed recently by Castleoak.