Acquisition and Lease of a 70-bed Care Home in Bedfordshire

The home is built to best-in-class standards with full en-suite wetroom provision and strong environmental credentials and has undergone a full refurbishment programme before reopening in Q3 2023.  The state-of-the-art care home property, which will reestablish 60-80 jobs for the local community, will be let to the operator on a long-term lease with RPI-linked escalator with cap and collar.

Reopening the home, which has been closed since 2022, will release 70 quality care beds back to the local market reducing the level of undersupply in the area, in addition to the provision of jobs for the local community.  The state-of-the-art care home currently holds an EPC B rating and, following the planned refurbishment, has the potential to achieve a BREEAM in Use rating of Excellent, aligned with EHP’s sustainability strategy.

James Giles, Investment Director at Elevation said: “We are pleased that the acquisition of the care home will return 70 ensuite wetrooms back to the market and will be operated by a team who are delivering first-class care to their local community.  The operator’s strategy for progressing ESG and sustainability is strongly aligned with that of Elevation and it has been great to work collaboratively to drive improvements.”

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