Barwood Capital (Barwood) and Perseus Land & Developments (Perseus) have completed the acquisition of a 1.2-acre site in Hardwicke, Gloucestershire, on which they intend to build a 64-bed care home.
The site is located in a suburban setting and benefits from strong sustainable transport infrastructure, including walking and cycling links and accessible bus routes. The joint venture partners will seek to deliver a minimum 10% biodiversity net gain on site.
Nick Masters, investment director at Barwood Capital, said: “This acquisition reflects our conviction in the UK care sector and the pressing need for high quality, sustainable accommodation for older people. The Hardwicke site represents an opportunity to combine responsible investment with tangible social impact in a location where demand is significantly outstripping supply.”
Will Chambers, director at Perseus Land & Developments, added: “We’re proud to be playing our part in addressing the chronic shortfall of quality care home beds across the country by promoting another high quality scheme. Our assessment shows there is a shortfall of some circa 160+ ensuite wet room bed spaces within the immediate three-mile catchment of the site. The proposals promise to be the first choice for people living in Hardwicke, Quedgeley and beyond. We look forward to progressing our planning application for the scheme with a target submission date for the end of March.”
