Newsroom
We are delighted to announce details of our fifth and latest development deal, with terms agreed to acquire five more development sites.
We are to develop a 63-bed care home at Station Road, Wootton Bassett on the former site of a St Ivel factory and borders a new housing development (a cgi of the Wootton Bassett development is shown above). AMS Care Ltd has signed a development agreement with us, rekindling our relationship, as we designed and built their 61-bed Gifford House care home in Basildon in 2005/2006.
This latest deal follows our earlier development projects - a 68-bed care home at Carterton in Oxfordshire, leased by MHA Care Group - and at Luton where we are currently developing a 70-bed care home for Quantum Care. At the start of 2010 we also announced a development partnership with longstanding customer, Barchester Healthcare, for a 62-bed care home in Basingstoke and a 65-bed care home at Wadhurst in East Sussex.
Our Executive Chairman, Mel Knight, confirmed that terms have been agreed to acquire five further development sites, with many more being appraised. He added that the development programme adds a significant new dimension to the Castleoak offer, and has been designed to accelerate the urgently needed pipeline of new, purpose-built developments for our customers.
“We’ve specialised in design and build uniquely for the care sector for over 20 years, and our specialist development team is bringing forward excellent sites in prime locations,” he said.
“Establishing a development arm to the business had been a long-term strategic objective and we always expected its progress to be steady and gradual. These recent transactions prove that we have the ability to structure and execute often complicated deals – with landowners, customers and funders – tailor-made to suit the requirements of individual customers. Strong and effective partnerships are at the heart of this.”