01/08/2024
Elevation Advisors LLP (“Elevation”) is pleased to announce that a real estate fund advised by Elevation, has provided acquisition and development financing for two development sites with prime elderly care developer-operator Oakland Care (“Oakland”).
The first development is a 75-bed care home in Harpenden, a highly-sought after commuter location with strong community links. The development has been designed to a high specification to enhance the wellbeing of residents, relatives and staff. The home will have wet-room ensuites throughout, and amenities including a cinema, bistro and family room.
The second care home in Bracknell will feature 72 wet-room ensuite beds and a high-level of communal spaces including reception café and landscaped gardens. Bracknell is a large commuter town with direct transport links to London and Reading. Construction on both homes is underway with plans to open in mid-2026.
Oakland is a leading care operator in the South East of England with ten operating care homes across London and the South East, comprising 732 beds. Oakland Care is a highly-respected operator with an ambitious ESG strategy, having achieved Greenmark accreditation and becoming the first UK care group to be certified as carbon neutral by the Carbon Neutral Trust across its entire portfolio.
Aligned with this strategy, an emphasis has been placed on the environmental performance of the new homes. The designs have focused on the eradication of fossil fuels to deliver carbon reductions with an all-electric power supply, air source heat pumps and photovoltaic solar panels. It is anticipated that the homes will achieve BREEAM In-Use ratings of ‘Excellent’ on completion. Furthermore, the homes will each create circa 80-100 jobs for their local communities.
Joanne Balmer, Chief Executive Officer at Oakland said: “The acquisition of sites in Harpenden and Bracknell marks a further step forward in achieving our growth ambitions to provide exceptional care to people living in these communities. Through investment in renewable technologies, the impact of these homes to the environment is minmised and they will represent the design of the future for Oakland to achieve net zero. We are delighted to add these homes to our award winning portfolio and are looking forward to their opening in 2026.”
Eamonn Meadows, Investment Director at Elevation said: “We are delighted to continue our partnership with the award-winning Oakland with the development financing of these two homes, following the development of four care homes together since 2021. Oakland’s strategy for progressing ESG and sustainability is strongly aligned with that of Elevation and our aspirations of operationally net zero assets. These two homes in Bracknell and Harpenden will fulfil the market need for care homes which are built for longevity and make a positive contribution to their wider communities.”
Oakland Care has a track record in developing and operating market-leading elderly care homes in London and the South East. Their high-end care homes offer luxurious, comfortable living that promotes individuality. Oakland focusses on delivering the highest standards of care in a five-star environment along with fulfilling activities programmes to offer exceptional resident experiences.
Oakland Care have been recognised as one of the Top 20 Mid-Size Care Home Groups in 2024 by carehome.co.uk and named ‘Residential Care Provider of the Year’ (Small Group) in the Health Investor 2023 Awards and additionally, Investors in People ‘UK Employer of the Year 2023’ for Gold standard companies with more than 250 employees.
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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.