Developer Charterpoint Senior Living has announced HC-One will take up the tenancy of a 70-bed care home in Bingham, Nottinghamshire.
Rushcliffe Borough Council granted planning permission for the development on the site of a former police station following an application by Charterpoint Senior Living earlier this year.
Charterpoint Director Giles Nursey said: “We are delighted that Rushcliffe Borough Council gave its support to our scheme and that a professional, well-regarded care home operator like HC-One is to run the facility, once it has been built. The site has been vacant for some time, and this care home development will not only bring a brownfield plot back into use, it will also provide high-quality, bespoke care home facilities for the local community. We now look forward to seeing it come to fruition.”
Justin Hutchens, Chief Executive at HC-One, said: “HC-One is on a mission to be the first-choice care provider for older people and the employer of choice for the kindest and most professional care workers. We are therefore delighted to be working with Charterpoint Senior Living and Rushcliffe Borough Council to expand the reach of our high quality care services in Bingham. New developments like this are crucial as they address the growing demand for care home places in this country.”
A fund managed by Alpha Real Capital LLP has acquired the investment from Charterpoint.
James Murray, Social Real Estate Portfolio Director for Alpha said: “We are delighted to be working with both Charterpoint and HC-One to fund the development of a high quality care home in Bingham. Alpha Real Capital continues to align itself with the social real estate sector nationally and seeks to make a positive social impact whilst achieving appropriate risk adjusted returns. This latest transaction creates a high-quality long term investment whilst establishing a best-in-class facility for the community of Bingham.”
Demolition work is now under way on site, with building work due to start early next year and opening for summer 2021.