Hamberley agrees to sale of two luxury care home developments
Luxury care home developer Hamberley Development, backed by Patron Capital, has sold two of its well-advanced care home developments to Target Healthcare REIT Limited.
The deal will see Hamberley’s operating company, Hamberley Care Homes, lease back the buildings over a 35-year period.
The luxury developments, one in Cumnor Hill, Oxford, and the other in Badgers Mount near Sevenoaks in Kent, have a combined total of 130 beds.
Both homes will be in keeping with Hamberley Care Homes’ premium style and include luxury en-suite bedrooms, a cinema, a bar area, a hair and beauty salon (with a nail bar), luxurious lounges and beautifully landscaped gardens.
The two developments are due to be completed by mid-2019 and will join the rapidly growing Hamberley Care Homes group which already includes Caddington Grove, in Dunstable, and Newton House, in south Glasgow.
When open to the public the Oxford development will be known as Chawley Grove and the Badgers Mount site will operate as Halstead House.
In addition to these homes the group has a development pipeline of sites in Bracknell, Basingstoke, West Byfleet, Worcester, Ampthill, Hailsham, Enfield, Bedford and Camberley. The group is also actively acquiring land and existing operating businesses and has over £300m of capital allocated for healthcare investment.
Daniel Kay, Director of Hamberley Development, said: “We’re delighted to have agreed this deal with the Target Healthcare REIT team. The sale demonstrates the success of the design and development of our state of the art care homes in the UK. There is a growing demand for this type of leading-edge luxurious care environment and we are actively seeking out new opportunities.
“Both of these properties are close to completion and the Hamberley Care Homes team looks forward to becoming a valuable member of each local community, providing truly personalised care for residents.”
Keith Breslauer, Managing Director of Patron Capital, said: “We have a strong reputation in the healthcare sector, having successfully created, built and sold Gracewell Healthcare (elderly care) and The Badby Group (specialist care). With an ageing population and growing demand for high-quality accommodation for older people in the UK, we are pleased to be backing the same, multi-award-winning team at Hamberley Development, which is setting new standards in this space. We are actively looking for additional opportunities to grow our exposure to this sector which we believe has an important role to play in wider society.”