UK care home investor and landlord Octopus Real Estate has partnered with operator Torwood Care, providing £40 mln (€48 mln) to develop three new care homes.
The assets, developed by Torsion Care and located in Durham, Worksop, and Bradford, are part of the Octopus Healthcare Fund’s portfolio.
Targeting BREEAM Excellent certification, the assets, adding over 200 en-suite beds, will contribute to the fund’s ESG performance and net-zero goals.
The care homes are the third, fourth, and fifth in a seven-home forward-funding portfolio developed through a joint venture between Torsion Care and Tanglewood Care, in partnership with Torwood Care. All three are expected to open by mid-2026.
Max Weitzmann, investment director, Care Homes, Octopus Real Estate, commented: ‘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, Torwood Care, said: ‘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, Torsion Care, added: ‘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 provided legal counsel to the Octopus Healthcare Fund on all three acquisitions.
