Octopus Real Estate acquires care homes in West Sussex and Cheshire
Octopus Real Estate today announced the start of a long-term strategic partnership with Anavo Group to fund the development and operation of high-quality elderly care homes across the UK.
The partnership has launched with two acquisitions comprising a total of 126 beds. Mount Hermon Care Home, a new 66-bed care home in Lancing, West Sussex, is currently being developed by Anavo and due to open in early 2024. This is complemented by Brampton Lodge, a 60-bed purpose-built elderly care home in Warrington which Octopus recently acquired from Safe as Houses Ltd Investment.
Octopus Real Estate is forward funding the development of the Lancing home to a cost of approximately £15 million. Upon completion of the development, Anavo will operate both homes on 35-year indexed leases.
Chris Wishart, care home origination director at Octopus Real Estate, said: “Anavo Group is a highly regarded operator in the UK care sector, so we are delighted to work alongside them on these two care homes, and to enter into what will no doubt be a successful long-term partnership. At Octopus Real Estate we make a point of investing in exceptional modern, purpose-built health and care facilities that we would choose for our loved ones, and these homes are no exception.”
Edward Moore, director at Anavo Group, added: “We’re delighted to announce these deals with Octopus Real Estate. The team at Octopus has a deep understanding of the care sector, and this partnership will allow us to further develop our portfolio and provide exceptional service to residents across the UK. Our care homes aim to enhance quality of life, treat people as individuals and enable residents to maintain their personal choices and independence. We pride ourselves on providing a warm, friendly and homely environment where residents are cared for with dignity and compassion, values that I know we share with Octopus.”
Forsters acted for Octopus Real Estate, Bevan Brittan acted for Anavo Group, and Squire Patton Boggs acted for Safe as Houses on the Brampton Lodge acquisition.
