Abbeyfield signs first leasehold with Castleoak
Updated: Jul 24, 2020
Abbeyfield has turned again to Castleoak to extend its estate of care homes. Abbeyfield has agreed a 30 year lease for a state-of-the-art £8.5 million 80-bed care home development in Southampton.
This agreement follows the successful design and build by Castleoak of Abbeyfield Winnersh, a specialist dementia care home. The property recently won the Pinders Healthcare Design Award 2017 ‘Best new care home’ and was shortlisted for in the RICS Awards 2017 for Innovation. Hale Court retirement living apartments in Tunbridge Wells was also completed recently by Castleoak.
“This is the first leasehold development project for Abbeyfield” said Richard Virr, Director of Development at Abbeyfield. “We chose to partner again with Castleoak as they have proven themselves as a trusted specialist developer, as well as a highly effective and reliable design and build team. This lease hold agreement affords us the opportunity to make the most of our funds. Development is a key enabler of our growth programme” he added.
“Castleoak offers a highly attractive, proven development solution to operators designed to minimise risk and ensure speed to market” said Craig Currie, Chief Executive at Castleoak. “We select new development sites following rigorous demographic and care gap analysis, and our in-house development team deals with acquiring the site and achieving planning consent. In parallel, our specialist design and build teams apply extensive care sector operational design and construction expertise to create a commercially viable development ready for operators.”
Read more about the development from Care Industry News here