01/07/2025
Elevation Advisors LLP (“Elevation”) is pleased to announce an update on activities and transactions completed in the first half of 2025 by Elevation Healthcare Properties (“EHP”), a healthcare real estate fund advised by Elevation.
Transactions & Developments: During H1 2025, EHP added a new home to the portfolio and construction progressed on 7 additional development sites. Key activities include:
- Completed the acquisition of land and agreed forward-funding to support the development of a new high-quality care home in Otley (Yorkshire), comprising 66 beds. The completed home will be let on a long-term lease with RPI-linked escalator with cap and collar to Torwood Care. The development is targeting a BREEAM New Construction rating of ‘Excellent’ and EPC ‘A’ rating. The design specification includes solar panels, air source heat pumps, electric vehicle charging points and the eradication of fossil fuels through all electric design
- Trent Bridge Care Home, operated by Tanglewood Care Homes, won ‘Best Architectural Design’ at the Healthcare Design Awards. This stand-out project has developed a welcoming care home environment that takes centre stage in its community
- Its Huddersfield project celebrated its topping out, with Torsion Care as developer, Torsion Projects as contractor and Torwood Care as our operator partner. The care home will provide 61 ensuite wet-room beds to the local community and has been designed to incorporate the latest carbon reduction technology, including solar PV panels. The home is due to reach completion in Q3 2025
- Works commenced on its development project with Anavo for a high-quality care home in Havant. The care home, set to open late next year, will have 78 wet-room ensuite bedrooms and has been designed to a high specification that will enhance the wellbeing of residents, relatives and staff. Amenities will include a community accessible space, café/bistro, family games room, and beautiful outdoor spaces with retained trees on three borders to preserve natural habitats and provide shading. The development is targeting a BREEAM New Construction rating of ‘Excellent’ and EPC ‘A’ rating
ESG: EHP has a robust and comprehensive ESG strategy in place to deliver targeted environmental sustainability and positive social outcomes. Initiatives delivered during H1 2025 include:
- To monitor the social outcomes of the fund and progress against EHP’s Social Framework, Elevation has produced its first annual Social Framework Report for 2024, which highlights the key initiatives undertaken throughout the year including EHP’s social enhancement clauses and operator engagement
- Exceeding all three KPIs set for EHP’s Sustainability Linked Loan with a leading high street bank. The £153m debt facility refinanced in H1 2024 alongside Sustainability Linked Hedging, demonstrates EHP’s commitment to sustainability and advancing the existing ESG strategy. The Sustainability Linked Loan assesses the progression of EHP in three areas, with all year-1 targets achieved:
- the annual Global Real Estate Sustainability Benchmark (“GRESB”) reporting which assesses a breadth of ESG and sustainability credentials;
- the progression of EHP’s asset-level certification against BREEAM in-Use; and
- commitment to fundraising and volunteering for selected organisations
James Giles, Investment Director at Elevation said: “EHP seeks to address the structural undersupply of elderly care beds in the U.K. and delivers modern, high-quality care communities, designed to meet increasing environmental standards. We are delighted to announce an additional home to the portfolio and provide an update on the progress of our eight current developments which will collectively increase the UK care home bed supply by c.542 beds. This progress demonstrates the stable and resilient growth of EHP and its successful alignment with the needs of investors and stakeholders. We are delighted with the continued success of EHP and look forward to realising our 2025 ambitions in the second half of the year.”
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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.
