Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate lender and investor, has announced the completion of a new deal to develop and fund the construction of a 60-bedroom Brendoncare care home in Winchester, for older people. The development will be forward funded by the Octopus Healthcare Fund for approximately £15 million and is being developed by Octopus Real Estate’s in-house healthcare development team.
St Giles View, which will be built on the site of a former care home, has been custom designed for Brendoncare who will lease and operate the new home. As well as all bedrooms having private en-suite wetroom facilities, there will also be an onsite café which will be open for residents, their families, and the local community to use.
Octopus Real Estate continues to grow its portfolio of over 60 modern, purpose-built care homes across the UK, addressing the growing need for high-quality real estate that supports the health and wellbeing of the UK’s ageing population. Brendoncare is a registered charity with over 700 staff throughout its care homes, clubs division and in its central office in Winchester.
Ed Clough, Director, Care Homes at Octopus Real Estate, commented: “We’re delighted to be developing and funding this new, best-in-class care home for Brendoncare. It is an exciting project which pulls together the specialist development and investment expertise within Octopus Real Estate and will deliver a high-quality care home for the local community in Winchester.
“We have worked closely with Brendoncare to make sure the home is designed to a high standard meeting their bespoke requirements. Brendoncare’s knowledge of the local area has been invaluable and we hope to work together on future new homes, too.”
Marianne Wanstall, Chief Executive at Brendoncare, commented: “We are absolutely thrilled that the deal has been completed and to be working with Octopus Real Estate on this exciting project. The new home will provide much needed care for nursing, dementia, residential, respite and end-of-life residents in Winchester.
“The community spaces will be invaluable for us to be able to offer services to local people, helping to prevent social isolation and loneliness. We will also be providing community support services for people who may need extra help to enable them to continue to live independently in their own home.”