Octopus Real Estate has agreed a £14.5m forward-funding deal with Burghley Care for the development of a new care home in Hipperholme, Halifax.
The all-electric care home, which will provide 72 beds, will be powered by air source heat pumps and will feature solar panels.
Burghley Care is a joint venture between care home operator Park Lane Healthcare and specialist developer Torsion Care.
Max Weitzmann, investment director – care homes, Octopus Real Estate, said: “This new care home will not only provide much-needed beds in Hipperholme, but will also set a national benchmark for sustainable and high-quality care facilities; of key importance to Octopus as we are committed to delivering 100% net zero care homes by 2040.
“The agreement marks the continuation of our relationship with well-positioned developer Torsion Care, whilst providing an excellent opportunity to bring Park Lane Healthcare into the fund, along with Burghley’s strong pipeline of sites across the region.”
Chris Lane, chairman of Park Lane Healthcare, added: “This project marks an exciting milestone for Park Lane Healthcare as part of our joint venture with Torsion Care. Through Burghley Care, we’re combining decades of operational expertise with innovative development capability to deliver a new standard of care. The purpose-built home in Hipperholme is just the beginning of what we believe will be a transformational pipeline across the region, offering the highest quality care and addressing increasing demand for residential support.”
Ian Ward, managing director of Torsion Care, said: “We are proud to announce this forward funding deal with our funding partner Octopus Real Estate and the formation of a new joint venture partnership with Park Lane Healthcare under the Burghley Care brand. This joint venture marks an exciting new chapter for our business, as we work towards delivering high-quality, purpose-built care environments that meet the evolving needs of our ageing population.
“The support and confidence shown by Octopus Real Estate reflects our shared commitment to long-term, sustainable care solutions. Together with Park Lane Healthcare, we look forward to creating homes where residents feel safe, valued, and truly at home.”
