Real estate fund Elevation Healthcare Properties (EHP) has completed the sale and leaseback of Henbrook House care home in St Neots, Cambridgeshire, which is let to Connaught Care on a long-term lease with RPI-linked escalator with cap and collar.

Residential and dementia care provider Connaught, a new operator relationship for EHP, operates four care homes in the East and Southeast of England, comprising 281 beds, with an active pipeline of seven development sites. 

Henbrook House, which opened in May this year, has 69 en suite wetroom bedrooms and amenities include a bistro, cinema room, private dining room and health spa. The home has an EPC A-rating with plans to install solar panels at the home in the near-term and it achieved a BREEAM New Construction rating of Good.

Andrew Winstanley, chief executive of Connaught Care said: “This partnership will enable Connaught to continue its ambitious growth plans and realise its pipeline of development opportunities that will see Connaught bringing 11 high-end homes to the elderly care market in a space of 24 months. The Connaught Care Collection strives to deliver best-in-class care homes that are not only renowned for the luxurious build and fit-out, but are coupled with the most engaged and committed staff team to ensure that our core principle of outstanding care is never compromised.”

James Giles, investment director at Elevation added: “We carefully select operating partners who have an excellent record in care and we are excited to begin a new partnership with Connaught, adding this high-calibre care home into the portfolio as we continue deployment in EHP. This is the 22nd asset addition by EHP this year, bringing the portfolio to a total of 45 UK. elderly care home assets with over 3,000 beds and a strong pipeline of further acquisitions and pre-let forward funded transactions.  Henbrook House has strong environmental credentials in line with EHP’s ESG strategy and we are delighted to fulfil the market need for care homes which are built for longevity and benefit the lives of residents, staff, families and the local community.”

Elevation was advised by Bevan Brittan, Grant Thornton, Carterwood Analytics, Pinders and Envision. Connaught was advised by Freeths.