Octopus Capital has provided a £13.4m loan to Oakland Care to support the development of a 70-bed residential care home on a brownfield site in Fleet, Hampshire.
The development will feature PV panels and air source heat pumps to create an effective heating and hot water solution, creating a sustainable property that drives down bills for the operator.
Jenna Hollins, investment manager – real estate debt, at Octopus Capital, said: “The UK care sector faces a significant challenge due to a shortage of quality care homes and an increasing ageing population. To help address this, we’re lending to developers that we can trust to build care homes we would be happy for our own loved ones to live in. By working alongside the established and experienced team at Oakland Care – who put quality and service at the heart of their homes – we can support the delivery of care homes that are fit for the future and meet the evolving needs of society.”
Joanne Balmer, CEO at Oakland Care, added: “We are delighted to be partnering with Octopus to deliver our new 70-bed care home in Fleet – a development that represents both a strategic growth opportunity and a bold step forward in sustainable care. At Oakland Care, we are committed to redefining what high-quality care looks like by combining excellence in service delivery with forward-thinking environmental design.
“This home will incorporate advanced sustainability features that not only helps reduce environmental impact but also drives long-term operational efficiencies. With Octopus’s backing, we are confident in our ability to scale responsibly while delivering strong, values-led outcomes for residents”
Hoong Wey Woon, managing director at DC Advisory, which acted as broker, said: “I am delighted to have advised Oakland Care on its latest debt raise. Oakland Care exemplifies high quality care and real estate. In partnering with Octopus Capital, it is primed for continued success.”
