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.
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.”
