Canada Life Asset Management has financed a £20m (€23.6m) luxury UK care home project developed by Frontier Estates.
The investment manager is financing Wellford Gardens, the 65-bed asset in Wheatley near Oxford leased for 40 years to The Orders of St John Care Trust.
Michael White, head of UK property at Canada Life Asset Management, said: “We are pleased to be supporting The Orders of St John Care Trust to provide high-quality care to those who need it most, and at a time when the number of people in the UK aged over 85 is expected to significantly increase in the coming years.
“This transaction also demonstrates Canada Life Asset Management’s ability to provide capital to support key projects in local communities. We look forward to continuing our relationship with the teams at Frontier Estates and The Orders of St John Care Trust.”
Mike Mansell, director at Frontier Estates, said: “We are very proud to have put this whole project together and we are very pleased with the end result. We use our unique expertise in the healthcare market to lead the way and revolutionise how care home environments are being delivered in the UK.”
Tracey Wardle, CFO at The Orders of St John Care Trust, said: “We are proud to open the doors to our newest home, Wellford Gardens. The significant investment in the luxurious surroundings, innovative care technologies and dedicated care and hospitality teams demonstrates our commitment to fostering a nurturing environment where every individual resident can thrive and feel valued, supported and well cared for.”
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