14/10/2024
Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Properties (“EHP”), a real estate fund advised by Elevation, has completed the acquisition of land and agreed forward-funding to support the development of a high-quality care home in Havant with Anavo Group (“Anavo”) as developer and operator. Once completed, the home will be let on a long-term lease with RPI-linked escalator with cap and collar to Anavo, a new operator relationship for EHP.
The development is a 78-bed care home in Havant (Hampshire), an attractive coastal town with a large catchment area and an undersupply of quality care beds. The home, set to open in late 2026, has been designed to a high specification to enhance the wellbeing of residents, relatives and staff, will have wet-room ensuites throughout and amenities including a community accessible ‘Anavo Club’ space, café/bistro and family games room.
Anavo, established in 2019, are a rapidly growing care home developer and operator with 14 operating care homes across Scotland and England. With a focus on high quality, collaborative care accessible to all, Anavo provide residential, nursing, specialist dementia and short-stay care.
The Havant home has been designed to a high specification with an emphasis placed on environmental performance. The developments will achieve an EPC A-rating focussing on the eradication of fossil fuels to also deliver operational carbon reductions with an all-electric power supply comprising air source heat pumps and the inclusion of photovoltaic solar panels and EV car chargers. It is anticipated that the home will achieve a BREEAM New Construction rating of ‘Excellent’ and a BREEAM In-Use rating of ‘Excellent’ on completion and will meet the latest regulations in terms of fire safety sprinkler systems. Furthermore, the site proposes significate biodiversity net gain through delivery of a high level of green and outdoor space including the retention of trees on three borders to preserve natural habitats and provide natural shading.
Edward Moore, Director at Anavo said: “This is a very exciting project for Anavo and one that delivers on our ambition to deliver best in class care accommodation with a commitment to sustainability and local community integration. It’s a pleasure to be partnering with the team at Elevation and we look forward to growing our operational footprint with them.”
James Giles, Investment Director at Elevation said: “We are delighted to begin our partnership with Anavo, adding this top specification care home into the portfolio as we continue deployment in EHP. We carefully select operating partners who are proven to create best-in-class care home environments, have an excellent record in care and can evidence a positive impact on their respective local communities. We are delighted to welcome Anavo into the EHP portfolio and fulfil the market need for care homes which are built for longevity and make a positive impact on their wider communities.”
Established in 2019 by Edward Moore, Jamie Braganza and Tom Brookes, Anavo is a care operator and developer with 14 homes across the UK, providing residential, nursing, day care and dementia specialist support. For more information please visit https://www.anavogroup.com.
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Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
