Barwood Capital and partner Perseus Land & Developments have completed the sale to Oakland Care of a consented 72-bed care home scheme in Bracknell Forest, Berkshire, for an undisclosed sum.
The cleared 1.57 acre site was purchased in April 2023 through the Barwood Regional Property Growth Fund V, with planning permission secured in April 2024.
Andrew Barlow, head of fund management at Barwood, said: “Our exciting partnership with Perseus is enabling best-in-class accommodation for older people at a time when the market is starved of supply. We expect the care home and senior living sector to continue to expand as the market matures and the UK’s older population increases over the coming years.
“Perseus’ expertise in the sector has allowed us to identify opportunities that serve to support local communities, create jobs, all while providing attractive investor returns.”
William Chambers, acquisitions director at Perseus, added: “To conclude the sale to Oakland Care completes the business plan objectives for this asset within three months of securing planning via delegated approval. Good sites sell well and we were very pleased to work closely with Oakland on an exclusive basis. The collaborative approach ensured we navigated the planning process efficiently with the end result being a home that is bespoke for Oakland’s operations.
“We look forward to seeing this asset delivered and welcoming residents in the near future. It will be a superb setting within the mature woodland setting whilst also benefiting from prominence to Ringmead. The project was delivered ahead of forecast which is always nice to achieve. We wish Oakland every success for the delivery and future operations at the site.”
Richard Dooley, director development at Oakland Care, said: “It has been a pleasure to work with the Perseus team in acquiring this site in Bracknell. The planning and design process was managed collaboratively by both parties achieving an excellent outcome. The design of the home will enable us to achieve a BREEAM Excellent rating within a net zero building adding to our company wide commitments in reducing our carbon footprint.
“Oakland will soon commence the construction of the 72-bedroom care home which will provide a mix of residential, memory and nursing care across the home. This home will become our twelth operational home within our growing portfolio of homes in the South East of England.”
