Octopus Real Estate has provided funding of £40m to facilitate the delivery of three new care homes as part of a strategic partnership with Torwood Care.
The new, purpose-built care homes will provide more than 200 beds, each with a private wet room. The sites are located in Durham, Worksop and Bradford and will operate as Tanglewood Care when they open in the first half of 2026.
The fully-electric homes, which are being developed by Torsion Care, have been designed to achieve BREEAM Excellent ratings.
Max Weitzmann, investment director, care homes, at Octopus Real Estate, said: “We’re pleased to build on our partnership with Torwood Care, an experienced and well-respected operator. We have now worked together on the development of five best-in-class elderly care homes across the UK, totalling over 350 beds. It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes that are fit for the future and meet the needs of society. We look forward to working with Torwood on additional developments going forward, working together to address the undersupply of high-quality care beds across the UK.”
Nick Kempster, director at Torwood Care, added: “At Torwood, we believe that everyone has the right to live in a home that is fit for their needs, and we take great pride in providing quality care in comfortable, relaxed and homely surroundings. The developments we have funded with the Octopus team are a prime example of that commitment. We’re delighted to be working with Octopus Real Estate to fund and operate these three purpose-built care facilities.”
Martin Hutson, director at Torsion Care, said: “We’re thrilled to have secured project funding with Octopus Real Estate to enable us to deliver three more excellent schemes in an increasingly demanding market. We are expanding our own development portfolio and are excited to continue working with both teams.”
Forsters LLP acted for the fund on all three acquisitions.
