Real estate fund Elevation Healthcare Properties (EHP) has acquired Abbey Wood Lodge, a 60-bed, purpose-built care home in Ormskirk, Lancashire, which will now be operated by Torwood on a long-term lease with RPI-linked escalator with cap and collar.

Abbey Wood Lodge offers full en suite wetrooms.

EHP has also acquired land and a forward-funding agreement to support the development of a 61-bed care home in Huddersfield, West Yorkshire to be developed and subsequently let to Torwood.

Torwood currently operates two care homes and has more than five developments under construction in partnership with contractor Torsion Group. 

Martin Hutson, director of Torwood said: “We are delighted to have agreed the lease on the operational 60-bed care home at Ormskirk and the forward fund on the 61-bed care home at Huddersfield with the team at Elevation. These two schemes will further strengthen our existing care home portfolio and provide much needed high-quality care for local people. All the Torwood portfolio consists of EPC A and BREEAM excellent-rated homes, which provide high levels of sustainability and carbon reduction. This aligns strongly with our fund partners’ strategy and we will continue to innovate the development of our homes to deliver some of the most modern and carbon efficient care homes in the sector.

James Giles, investment director at Elevation commented: “We are thrilled to begin our partnership with Torwood by adding two homes into the portfolio, as we continue deployment of EHP.  Abbey Lodge Care Home will be operated by a team who are committed to high-quality care and engaging with their community; the new care home in Huddersfield will be built to exceed the latest environmental standards and serve the needs of the local area. Torwood’s strategy for progressing ESG and sustainability is strongly aligned with that of Elevation and our aspirations of operationally net-zero assets, taking steps to reduce carbon emissions as much as possible through the integration of alternative technologies. We are thrilled to support their business growth.”