Hallmark Care Homes and Octopus Healthcare have invested in a Surrey care development in a deal brokered by Christie & Co.
Hallmark will take a 30-year operational lease on the Banstead 77-bed scheme following completion in 2018 with Octopus providing a forward funding package and holding the investment in the long term.
Avnish Goyal, managing director of Hallmark Care Homes, said: “This is the first operational lease for Hallmark. Our own experienced development team headed by Sue Earrey underpinned our decision to take this step with Lucas and Octopus.”
Freddie Richards, investment director for Octopus Healthcare, added: “We have known Hallmark for many years and have always admired their approach to excellent care delivery, with highly trained and motivated staff. We are delighted to have entered into a long term partnership with them in a prime Greater London location.”
The scheme, which will include including a spa, cafe, hairdressing salon, cinema and shop, as well as a wide variety of social and relaxation spaces, is being developed by Lucas Design and Cheylesmore.
Leslie Lucas, managing director of Lucas Design, said: “Lucas Design is a family business and premium house builder. We recognised similarities in our product and the quality and attention to detail required in delivering care homes for the top end of the market.
“This is the first of many schemes we will bring forward with our development partner, Adrian Ball of Cheylesmore. It has been great to work with Hallmark and Octopus Healthcare who share our approach to delivering a best in class product.”