Torsion III

Belgian healthcare REIT Aedifica has acquired Torsion Care’s 66-bed in Shipley, West Yorkshire in an investment worth around £8.4m.

The site achieved planning consent in summer 2020 and has been sold with a development contract in place to construct the 66-bed care home on Aedifica’s behalf.

Martin Hutson, Managing Director of Torsion Care, said: “The sale of this site to Aedifica launches the regeneration of a previously derelict manufacturing site and adds to the other recent schemes that are enhancing the whole local area.

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“The care home will provide modern high quality care accommodation that will enhance the quality of life for the residents and positively impact the local community. Our growth strategy focusses on acquiring defunct sites that we can develop with care homes or retirement living schemes for the benefit of local communities.”

Torsion Construction is carrying out the build on behalf of Torsion Care with work having begun in March and completion expected in July 2022.

The care home, which will provide residential and specialist dementia facilities, will be operated by Burlington Care, which operates a number of homes in the region.

Tags : AcquisitionConstructionFinance

The author Lee Peart

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