Octopus Healthcare completes record £60+ million deal with New Care, advised by Knight Frank

Octopus Healthcare signs multi-asset deal with New Care to bring a brighter tomorrow to care home provision in the Midlands and North West.

Octopus Healthcare has completed a record deal valued at over £60 million with New Care, part of McGoff Group, to acquire four new care homes incorporating c.300 future-proofed beds across the Midlands and North West regions. The value of the deal breaks the previous record for the growing Octopus Healthcare Fund and signals the move towards long-term partnerships being the model of choice for future investment in care homes. New Care were supported in completing the deal using expertise from the Knight Frank Healthcare advisory team.

Two assets in Nottingham and in Chester will immediately be leased to New Care who will continue as the operator. A further two properties located in Formby and Bramhall will be acquired by the Octopus Healthcare Fund at practical completion. The Formby development will be completed in Spring 2019, with Bramhall being delivered towards the end of 2019, both developments being delivered by McGoff Construction.

The properties have been developed to the highest standards of care home design and construction, with exceptional levels of fit-out that represent boutique hotel styling with carefully chosen interiors. The care homes will change the face of elderly care in their markets. 

Freddie Richards, Investment Director at Octopus Healthcare, said: “The Octopus Healthcare Fund has had a busy twelve months, having committed £198m into UK care homes since the fund was set up a year ago. This latest deal is particularly exciting as it demonstrates our partnership investment strategy in full swing. New Care’s experience in both care home development and care delivery is enviable and they are very straightforward to work with; they’re our kind of people. We want to invest in exceptional healthcare facilities, like these, that we would choose for our loved ones. For us it’s a very personal commitment.”

Julian Evans, Head of Healthcare at Knight Frank, said: “New Care are the rising stars of the UK care home arena, operating exceptionally high-quality assets. Their partnership with Octopus Healthcare provides the perfect platform to enable further growth.” 

Dominic Kay, Chairman of New Care, said: “What makes New Care so unique is our excellent relationship with McGoff Construction, as this allows us to design and build bespoke care facilities that feature the very best specification and interior design and offer exceptional care services.  In a similar way, we have established strong working relationships with both Knight Frank and Octopus Healthcare, both of which are commercial, pragmatic and a pleasure to deal with.”

The UK is currently suffering a care crisis as care homes continue to close due to the continued impact of the National Living Wage on an already constrained labour market and ongoing staffing challenges including an acute shortage of qualified nurses. In addition, many buildings are not fit for purpose and there is insufficient funding available for the refurbishment of existing care homes. Combined with building material inflation costs this has served to restrain new care home development.

Knight Frank predicts that the UK requires in excess of £15 billion to upgrade existing beds in order to future-proof the industry, and that approximately 6,500 care homes are at risk of closure over the next 5 years, which equates to 140,000 beds.

Octopus Healthcare to fund care home development in York for growing care home portfolio

Octopus Healthcare is delighted to announce the completion of a new deal to fund the construction of a 64 bedroom care home in Fulford, York. Using in-house development expertise, Octopus Healthcare secured the land and planning permission for the £11m care home development, which will be forward funded by the Octopus Healthcare Fund.

Award-winning McGoff Construction will deliver the development for Barchester Healthcare to lease and operate at completion. The state-of-the-art care home will replace an old facility at Fordlands, York, and the McGoff team have worked closely with Octopus Healthcare, Barchester and the City of York to design a suitable scheme that is sympathetic with the surrounding areas.

Barchester understand and support Octopus Healthcare’s mission of creating exceptional care homes that you would choose for your loved ones. Barchester run over 200 care homes across the UK and have more than 25 years’ experience in the sector, where they have demonstrated their commitment to consistent and quality care.

Declan McGoff, Operations Director at McGoff Construction, comments: “We are once again delighted to be working with Octopus Healthcare and Barchester to deliver a stunning, state-of-the-art 64 bedroom care home in Fulford. We are already working on similar projects for Octopus and Barchester in Melbourn, Cambridgeshire and for Barchester in Eastbourne and Denmead with others to follow in the coming months, so to add York to the portfolio is great news. We find both organisations very professional and a pleasure to deal with.”

Octopus Healthcare are confident that the partnership with Barchester will create a beautiful space for those in need of support and care. The 64 bedroom care home will be arranged over three floors, and built to traditional construction methods by McGoff Construction on piled foundations with a part basement for plant. The eternal façade has been specifically designed to reflect York’s architectural heritage, incorporating red facings, timber cladding, timber window and doors as well as slate-style roof coverings. The building will be aesthetically attractive with a carefully considered, practical and spacious internal layout.

Richard Dooley, Development Director at Octopus Healthcare, said “This genuinely was a team effort in obtaining the planning permission for the development. We worked closely with the local authority and local community to design a much needed facility for the local area. Our professional team worked diligently to really make sure that we are creating a great future for the health population of Fulford. This is a great example of how we can add value to our operator partnerships securing sites and planning.”

“We are delighted with this acquisition for Octopus Healthcare Fund,” says Freddie Richards, Investment Director at Octopus Healthcare. “We carefully select our partners to make sure we’re teamed up with operators and developers who truly understand what best in class elderly care looks like. Both Barchester Healthcare and McGoff Construction have an enviable track record in the sector and needless to say we are delighted to be partnered with them here.”

 

 

 

Wadswick Green gets a CIEEM ecological thumbs-up

We are delighted that our retirement village, Wadswick Green, has been recognised in this year’s Chartered Institute of Ecology and Environmental Management (CIEEM) Best Practice Awards, within the large-scale mitigation and/or enhancement project field.

Wadswick Green Continuing Care Retirement Community is a purpose-built village in the stunning Wiltshire Countryside, providing high quality living to those over 60.

Alongside the construction and development of the retirement village, we worked with Applied Ecology Ltd (AEL) in order to deal with a rather unusual problem. It was discovered that the most significant ecological constraint was the presence of roosting horseshoe bats that were making use of the site’s abandoned buildings.

To ensure the safe preservation of the bats and biodiversity of the site, brick-built bat houses were constructed, alongside the installation of two wildlife ponds and the planting of new woodland and meadow grassland. The approach was successful in sustaining and enhancing the site’s bat population, without impacting the construction and operation of the development.

At the awards, Wadswick Green was recognised as ‘Highly Commended’ in the nominated field, a fantastic outcome for all those involved.

Take a look at our portfolio for more retirement village projects.

 

 

The NHS Celebrates Its 70th Birthday

2018 is a huge year for the NHS, as our beloved health service celebrates its 70th birthday! Where would we be if it wasn’t for our life-saving doctors, nurses and other healthcare professionals? The NHS sits at the heart of the UK, which is why we’re going all out and want to shout from the rooftops about the NHS’ great work. From the bottom of our hearts, thank you, and happy birthday.

NHS 70

NHS-Key-milestones

It’s great to see how developments in healthcare and wellbeing have changed the way we live our lives. Over the years the NHS has saved countless lives and this wouldn’t have been possible without the dedication and compassion of NHS staff. Over 1.5 million healthcare professionals work for the NHS, from midwives who deliver miracles into the world, to surgeons who help us in our worst moments, we owe everyone a great big thank you for their hard work.

Cheers to many more NHS celebrations.

Kevin Beirne Joins Octopus Healthcare from One Housing

Octopus Healthcare, part of the Octopus Group, is pleased to announce the appointment of Kevin Beirne as Director of Retirement, joining the business from leading housing association One Housing.

With over 15 years’ experience in developing and managing specialist housing for the elderly and vulnerable, Kevin was a Group Director for One Housing where he oversaw the successful launch of the Season and Baycroft older people’s housing brands.

Kevin joins Octopus Healthcare to the newly created role, heading up the existing retirement team, as the business accelerates its retirement investment and development activity.

Mike Adams, CEO at Octopus Healthcare comments: “We are excited to welcome Kevin to Octopus Healthcare.  His experience and commitment to the sector will be invaluable and will enhance our senior management team as we look to rapidly increase our investment into the UK retirement accommodation sector.”

At One Housing, Kevin led on a number of revolutionary development and sector initiatives, including working with the Smith Institute to launch the influential think tank report: ‘Housing associations and the NHS: new thinking, new partnerships,’ which proposed that better integration of services should be led by using parts of NHS land for senior living and complex supported housing for people with long term conditions.

Kevin Beirne says: “We know from experience that when services for the elderly and vulnerable are integrated in the early design stages of a development, then the care providers – NHS or private – will have the right foundations to deliver better care, lifestyles and choices to residents. This process was fundamental to my work at One Housing and it dovetails perfectly with the ambition and values of Octopus Healthcare. This new role at Octopus Healthcare offers me great opportunities to use all my experience in a positive way.”

Richard Hill, Group Chief Executive at One Housing, said: “I want to thank Kevin for his many years of great work to secure One Housing’s position as the sector leader in housing and health. We are determined to build on this success and continue our track record of innovation, which brings huge benefits for the patients and the NHS.”

Kevin is a Director of ARCO (Associated Retirement Community Operators) and is a member of the NHF’s Delivering Great Homes Group. He was also a member of the Home and Communities Agency Board Advisory Panel for Vulnerable and Older People to 2013.

Plans formally submitted for Northern Ireland’s most innovative health & wellbeing park

Plans to create one of the most innovative and exciting health and wellbeing parks in Northern Ireland have moved one step closer after plans were formally submitted to Belfast City Council.

The King’s Hall Health and Wellbeing Park will be a flagship development in integrated healthcare, setting a new market standard not just in Northern Ireland but across the UK.

The ambitious development will include a next generation GP care facility combining GP services along with the potential for onsite diagnostics including X-ray, ultrasound and near patient care for over 25,000 patients. Discussions are also underway to ensure the facility is equipped to support the training of doctors and nurses; this, alongside new and exciting options for the over 55-plus who want to take control of their senior years, make this a truly unique development.

The site will also deliver much needed options for elderly living including a nursing home, independent living one and two bedroom apartments, bespoke homes for the over-55s as well as retail space, a hotel and a gym facility accessible to residents.

Developers behind this scheme, Benmore Octopus, believe the King’s Hall Health and Wellbeing Park will set a new standard for integrated health care provision in line with the Bengoa Report which had been launched as part of former Health Minister Michelle O’Neill’s vision for healthcare reform in Northern Ireland.

Commenting on the scheme, David Burrows of Benmore Octopus said: “The King’s Hall Health and Wellbeing Park is one of the most exciting projects we have been involved in. It will create next generation GP care services for the growing population of South Belfast as well as delivering a range of onsite diagnostic facilities alongside housing options for the over 55-plus.

“We believe the King’s Hall Health and Wellbeing Park will be a beacon of excellence and a standard bearer for integrated healthcare provision in the city and Northern Ireland going forward. We are confident that the integrated approach we have developed has the potential to reduce healthcare inequalities and deliver better health outcomes for everyone in the local community.”

He added: “Our decision to formally submit plans comes after months of working closely with Belfast City Council, consultees across the health and social care sector including the Health and Social Care Board and local residents. The plan and design we have now submitted reflects the highly collaborative and engaging process we undertook during the pre-application period. We believe this development is something truly special and unique which will have a lasting impact on people’s lives and health in this city.”

The completed development will provide employment for over 500 staff and will have a significant and lasting economic and social impact on the city. Benmore Octopus hope to commence the development in 2018.

Outstanding primary care provision for the people of Pudsey

Robin Lane Health and Wellbeing Centre in Pudsey had been operating from their building since 1997 and as a successful and expanding practice they wanted to support the NHS 5 Year Forward View. The centre was acquired by the MedicX Fund in 2012 and required the premises to be refurbished and extended to support patient demand and their goal of providing more primary care services in the community.

“Our vision has always been to offer the highest quality primary healthcare to our patients here in Pudsey, and to enable them to live longer and healthier lives. We know that this can only be achieved by taking a proactive approach to healthcare services in the local community, focused on preventative solutions as well as treatments.” Mev Forbes, Managing Partner at Robin Lane Health and Wellbeing Centre

The challenge

Over the last five years Robin Lane Health and Wellbeing Centre has seen patient numbers grow from 8,500 to over 13,500, and this popular centre receives many new registrations every day. With a vision to provide more urgent care in the community, as well as building on a philosophy of proactive personal care planning, it was clear that the premises needed re-development to meet demand.

The Centre is more than a GP practice, it is a centre for proactively promoting health and wellbeing in the local community, and was recently awarded ‘Outstanding’ by the Care Quality Commission. Pudsey’s strategic plan is focused on bringing healthcare services closer to home for patients. Improved facilities including a minor operations suite were needed to enable the primary care partnership to deliver on this plan.

The solution

Octopus Healthcare agreed an extensive re-development project to create eleven new clinical rooms, two treatment rooms and to reconfigure and update the reception areas. This involved a 167m2 extension to the premises, as well as refurbishment of existing areas.

The property and asset management team at Octopus Healthcare worked with the management team at Robin Lane Health and Wellbeing Centre to support the planning and development process. The goal was to future proof the practice, enabling it to absorb the predicted increases in patient numbers and provide excellent primary care provision in the community.

Phase II of this project is now complete and the primary care partnership at Robin Lane Health and Wellbeing Centre have been granted a new 25 year lease on the GP practice and pharmacy.

The result

Octopus Healthcare employed a project manager and project monitoring surveyor to oversee the entire project and ensure that the re-development was delivered on schedule. They also worked closely with the tenants to ensure that building works which took place over a 12 month period did not impact adversely on patients and clinical staff.

During the build process the practice asked for the addition of an Endoscopy Suite using clinical space previously allocated for other uses. Octopus Healthcare prides itself on delivering well-planned and well-executed projects, and Robin Lane Heath and Wellbeing Centre was no exception.

“We are delighted to be able to support the primary care partnership at Robin Lane Health and Wellbeing Centre in their goals to increase healthcare provision in the community of Pudsey, and to deliver the facilities that patients and clinical staff deserve. Pudsey is a fantastic example of what outstanding primary care looks like, and Octopus Healthcare are proud to be part of that vision.” James Young, Head of Property and Asset Management at Octopus Healthcare

 

For more details, visit MedicX Fund. 

Tudor Grange House set for renaissance as retirement living

Leading healthcare investor and developer Octopus Healthcare is planning a sensitive restoration of the Victorian, Grade II* listed, Tudor Grange House as an over 55’s Retirement Living scheme.

Built in 1887, Tudor Grange House was formerly the family home of Sir Alfred Bird of Birds Custard fame. The red brick house boasts stunning wood panelling, ornamental ceilings and tapestry works, which led to the building being Grade II* listed in 2008. However, parts of the property need complete refurbishment to bring it back into use.

Octopus Healthcare is proposing an exclusive refurbishment of Tudor Grange House to provide 12 luxurious one and two bed apartments, whose residents will be able to enjoy generous communal facilities including lounges, a café, therapy and beauty facilities together with a games room and sympathetically landscaped grounds.

In addition to the extensive renovation of the house itself, the proposals also include the redevelopment of the former car park and caretaker’s house to provide a new 64-bed care home and 37 Assisted Living units, while the development will enable the college to enhance its teaching facilities and provide additional learning opportunities for students.

Octopus Healthcare is keen to consult with the local community and will be holding a drop-in public consultation and exhibition at Solihull College & University Centre’s Blossomfield Campus on Thursday 9th November between 3.30 and 7.30pm.

Open to all local residents, businesses and stakeholders, this event will provide an opportunity for visitors to view the proposals, talk to the development team and comment on the plans ahead of proposals being finalised before submitting a planning application.

Ashley Heath, Healthcare Property Director at Octopus, said:

“We are extremely excited about having the opportunity to bring these magnificent rooms back to their former glory.  With over 20% of Solihull’s population aged over 65, this development would help meet a local, and growing housing need in the area and are specifically designed to meet the needs of people in later life whilst encouraging independent living.

Furthermore, increasing the housing choice for residents in later life also helps to release family-sized housing back into local markets, aiding Solihull Borough Council in meeting its required housing target. We are keen to work with the local community and invite anyone interested in our proposals to come along to the public exhibition.”

Students of Solihull College & University Centre are set to reap significant benefits from improved educational and hands on work experience facilitated through the renaissance of Tudor Grange House. These will extend to courses covering horticulture, nursing, business, finance, events management, hospitality, marketing and sales.

John Callaghan, Principal of the College, said:

“We are delighted to be working with Octopus to secure valuable new opportunities for our students and are absolutely thrilled that the legacy of Tudor Grange House will be protected by these proposals.  We have entered into a long term collaboration agreement with Octopus Healthcare to bring forward the restoration and development.”

The Public Consultation event will be held at:
Venue: Solihull College & University Centre’s Blossomfield Campus
Date: Thursday 9th November
Time: 3.30 pm to 7.30 pm

Investment and jobs boost for city of York

Plans for a modern new care home on the site of the former Fordlands care home in Fulford have been amended after the developers listened to feedback from the Council, to ensure it will be a real asset for York, on this key brownfield site.

Octopus Healthcare submitted plans for a 64 bed care home to replace the vacant former care home on the site in August and has recently amended its plans to ensure it is in keeping with its surroundings.

The development represents a £10 million investment in the City and will create 64 full and part time jobs.

The height and roofline has been lowered by up to 1.2m in key places, to make it more sympathetic to its environment, in response to comments by Council Officers.

The proposals are in light of the pressing need for more care home beds in the City.  In an updated report that went to the Council’s Executive Committee last month (28th September), it was confirmed that there is an estimated shortfall of 663 residential and extra care places for over 75’s by 2020 and a 1,490 shortfall by 2030.

According to a recent Local Government Association report called ‘Housing Our Ageing population’, it also estimated that throughout the country, the number of people aged over 65 is forecast to rise over the next decade, from the current 11.7 million people, to 14.3 million by 2025, a 22 per cent rise.

Lyth Watson, Director of Development for Octopus Healthcare commented:

“We believe that these plans will help to meet some of the shortfall in places identified by the Council.  Our proposals replace a long-term vacant care home, that was no longer fit for purpose, with a modern care facility to help meet the complex care needs of older people in the City.  Through the planning process we have listened to feedback and amended the plans to ensure it fits in with the local environment and to ensure it will be a real asset for York, on this key brownfield site.”

The proposals will diversify the type of care accommodation that exists in the local area and will provide independent and private rooms of varying sizes with en-suite facilities. Additional shared facilities will be available for residents, such as dining rooms, lounges, activity rooms, gardens, hairdressers and a residents and visitors café.

A decision is expected on the planning application in November.  If approved, the new care home could be open by mid-2019.

Partnering for the Future of General Practice in Lewisham

Octopus Healthcare, GP Property Ltd (GPP) and General Practice Investment Corporation (GPI) are delighted to support The Lewisham Care Partnership in its objectives for excellent healthcare provision and GP services in the Borough of Lewisham now and into the future.

The Lewisham Care Partnership (TLCP) was established in June 2017 and sees five primary care partnerships coming together to serve some 58,000 patients across the Borough. With a focus on future proofing patient care for residents in Blackheath, Brockley, Honor Oak, Ladywell, Lee, Lewisham Central, Rushey Green, and St John’s, the new partnership is set to provide a model for other primary care providers.

As property partners to TLCP, Octopus Healthcare, GPP and GPI will work together to develop modern bespoke premises to enhance the range and type of healthcare delivered by TLCP. The role of Octopus Healthcare, GPP and GPI is both for development and investment. The partnership with TLCP has already facilitated a sale to GPP and leaseback of Morden Hill Surgery to GPP, allowing equity release to property owning partners. The sale and leaseback also provides for the eventual replacement of Morden Hill with modern fit for purpose premises, which will enable a much greater variety of services for patients.

Octopus Healthcare and GPP will work with TLCP to devise an Estate Strategy to facilitate the development of new modern premises to replace those that are nearing the end of their useful working period. The new developments will respond to the agenda for greater services to be delivered in primary care, making those services more accessible to patients in primary care rather than having to make separate trips to hospital.

Octopus Healthcare, GPP and GPI believe it is vital to partner with new GP led organisations like TLCP in order to make primary care property truly responsive to changes in commissioning and to realise the desire for more services and greater access to services in primary care.

Colin Stears, Managing Partner of The Lewisham Care Partnership, says:

“We believe that to ensure that primary care providers can meet patient expectations, deliver high quality healthcare services, and implement the GP Forward View, investment must be made in property. Our partnership with Octopus Healthcare, GPP and GPI means we are able to facilitate a sustainable programme of development of primary care properties in the Borough of Lewisham.

By working with our member practices, either by taking on existing premises to ensure they get the investment they need or by developing new purpose built sites, our partnership with Octopus Healthcare will help The Lewisham Care Partnership deliver high quality primary care into the future.”

Tim Meggitt of Octopus Healthcare says:

“With our support and investment The Lewisham Care Partnership will be able to achieve its aims of working at scale, retaining GPs that want to release equity, and successfully recruiting new GP partners to member practices.

Maintaining and improving primary care property is a challenge for many GP practices and can be a significant barrier to meeting patient demand and delivering better healthcare services. By bringing in private sector investment, member practices that want to release equity will be able to become more agile and flexible, as well as benefiting from improved facilities.”