24/03/2026
Elevation Healthcare Properties (“EHP”), a specialist private open-ended healthcare REIT focused on UK needs-based senior housing advised by Elevation Advisors LLP (“Elevation”), is pleased to confirm that it has completed the acquisition of land and agreed to forward fund the development of a high-quality care home with Torwood Care (“Torwood”) as operator. Once completed, the home will be let on a long-term lease with RPI-linked escalator with cap and collar to Torwood, growing an existing operator relationship for EHP.
The development will provide 72 ensuite wetroom beds to the local community in Chesterfield (Derbyshire), an historic market and industrial town with a deep undersupply of high-quality care beds. The home, set to open in 2027, is prominently located and has been designed to a high specification to enhance the wellbeing of residents, relatives and staff. Amenities include a hair salon, sports lounge and family room.
The new development at Chesterfield will be a category leader in its market and has been designed to incorporate the latest environmental technology, omitting gas from its design to dramatically reduce carbon emissions in operation. The development will instead include air source heat pumps, solar panels and an all-electric design including in the laundry and kitchens to target an EPC A rating and a BREEAM In-Use rating of ‘Excellent’.
Torwood is a growing care operator with seven operating care homes and six further homes under construction and is led by an experienced management team in partnership with specialist contractor Torsion Care.
Martin Hutson, Director of Torwood said: “We are delighted to be progressing the Chesterfield scheme in partnership with Elevation, marking another important step in the continued growth of the Torwood platform. The development will deliver a 72-bed, purpose-built care home and reflects our focus on operating high-quality schemes in strong locations, underpinned by long-term partnerships and a clear focus on delivering high-quality care environments. We look forward to bringing the scheme forward and establishing a high-performing home that delivers positive outcomes for residents and the wider community.”
James Giles, Investment Director at Elevation said: “We are delighted to add another high-quality home into the portfolio of EHP as we continue deployment of the fund, and grow our valued partnership with Torwood. The care home will provide 75-80 jobs to the local community and will be built to exceed the latest environmental standards. Torwood’s strategy for progressing ESG and sustainability is strongly aligned with that of Elevation and our aspirations of operationally net zero assets, taking steps to reduce carbon emissions as much as possible through the integration of new technologies.”
Disclaimer
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