The initial thoughts about the creation of a development arm - Castleoak Care Developments (CCD) - sprang from discussions about the need to manage demand within CCP.

Because CCP becomes involved with customers at the very early stages of projects, picking up responsibility for feasibility and the planning process, it made sense to think about having absolute control over a number of developments in order to help smooth out timing issues which can sometimes cause turbulence for contractors.

This basic idea was market tested and the response from existing customers to the suggestion that we might develop care homes, which they could then operate on long term leases, was extremely positive.

We carried out detailed modelling work with PWC and now have the funding streams in place to carry out 20 developments by 2013.  This plan will see us retaining the freehold investment in 50% of the developments, which will enable the Group to enjoy the added benefit of capital growth in that element of the portfolio as well as the development profit in its entirety.

We recruited a highly experienced Development Director - Steve Bucknell (ex Sunrise) - in 2007 and he is now supported by a small but specialist team of Development Managers and Assistants.

Our first development of a 68 bed care home in Carterton in Oxfordshire was completed in June 2008 with long established client, MHA Care Group, operating the new facility on a 35 year lease.