Newsroom
Our recently announced development partnership with national care provider Barchester Healthcare has begun with the start-of-work on a 62-bed care home in Basingstoke.
The home at Marnel Park is the first of a series of six confirmed, pre-let Barchester care home development projects which we will source, deliver and manage during 2010 and 2011. These form part of Barchester’s wider development programme, which will grow its portfolio by ten new homes each year over the next decade.
We have recently secured a combination of debt and equity funding to help bring added capacity to the sector and our Executive Chairman, Mel Knight, said the start-of-work at Basingstoke demonstrates our ability to ‘get on with the job’.
“We were convinced that the combination of our own longstanding specialist expertise, market conditions – including considerable interest from investors - and the requirements of our customers meant we could deliver turnkey developments, from sourcing funding and finding excellent sites in prime locations, right through to furnishing, equipping and registration,” he said.
“We’re now delighted to be getting on site so quickly while also establishing future funding streams and a strong development pipeline. We have enjoyed a really productive long term working relationship with Barchester and we are really pleased to play a part in providing practical support to their ambitious ten-year development programme.”
Barchester’s CEO and founder, Mike Parsons, pictured above, left, with Mel Knight at the site, said: “We are very excited about our new developments and are looking forward to working in this partnership with Castleoak. They have built for us for many years to a very high standard and we have always had an excellent relationship with them. This new home in Basingstoke will reflect our commitment to providing high quality care environments.”