Leases and Modernising Healthcare Real Estate

Elevation is committed to delivering asset improvements whether that is by modernising older assets or funding new developments designed to deliver quality care.

As an example of the new developments we fund, we completed the acquisition of land and a forward-funding agreement to support the development of two new, state-of-the-art care homes in North West England, with LNT Care Developments (“LNT”). The completed homes are leased to a well-regarded regional operator.

Each home provides an additional 66 high-quality, modern care beds to an undersupplied market and has created 60-80 jobs for their local community, as well as promoting further engagement with community groups and individuals.

Over a number of years, LNT have continuously evolved their approach to integrating ESG principles in their developments. In addition to the homes being built to best-in-class standards with full ensuite wetrooms and with EPC A-rated energy efficiency, the latest design – which has been applied at both Shrewsbury and Stoke – takes the environmental credentials even further, resulting in their most sustainable homes to date.

The properties incorporate ground-source heat pumps which take advantage of natural subterranean heat to efficiently provide heating and hot water inside the property. Underfloor heating provides evenly distributed warmth in the most efficient means possible, and ‘comfort cooling’ throughout the day-spaces manages higher temperatures.

Gas has been excluded from the design and roof-embedded solar panels have been included to maximise the self-generation of electricity and enable the assets to avoid the use of fossil fuels throughout their operation. In addition, batteries have been incorporated into the design to store self-generated power for use when solar production is reduced. This will reduce their reliance on the grid, requiring only infrequent top-up electricity from renewable sources.

“LNT Care Developments is delighted to partner once again Elevation in providing another high quality residential care home to improve the lives of people in the local community.”

—Matt Lowe, CEO at LNT