Octopus Capital, a specialist UK real estate investor, has confirmed a forward funding agreement to deliver two purpose-built care homes through the Octopus Healthcare Fund (OHF). The projects, situated in Stafford and Taverham, are being developed in partnership with Abora Developments and will be operated by Avery Healthcare.

Construction on both sites commenced in 2025, with practical completion scheduled for early 2027. The Stafford home will provide 66 beds, while the Taverham facility, located just outside Norwich, will offer 70 beds. Upon completion, the assets will be let to Avery Healthcare on 35-year leases, marking the tenth home operated by Avery within the OHF portfolio.

In alignment with Octopus Capital's goal to achieve net-zero care home developments by 2030, the new facilities are designed to high sustainability standards. Both sites are targeting EPC A ratings and BREEAM In-Use 'Excellent' certification. The buildings will be fully electric, utilizing air-source heat pumps to enhance energy efficiency and reduce carbon emissions.

-- Advertisement --

Max Weitzmann, Investment Director at Octopus Capital, stated: "This investment reflects our continued focus on delivering high-quality, sustainable care homes that meet the needs of an ageing population. These two developments will provide modern, purpose-built environments for residents, while supporting the long-term provision of care in their respective communities with an operator we rate, value and trust.

"We are pleased to further strengthen our partnership with Avery Healthcare, and this transaction builds on a strong track record of working together to deliver and operate high-quality homes. We look forward to continuing to grow this relationship as we expand the portfolio."

John Strowbridge, Managing Director at Abora Developments, added: "We're delighted to further extend our relationship with Octopus Capital to fund and operate these two energy efficient care facilities. At Abora, quality of life and exceptional care at the forefront of our commitment to our tenants. In Octopus Capital we have found a strong partner to deliver on this premise."

Jeremy Richardson, CEO at Avery Healthcare, commented: "These two developments represent an important addition to our portfolio, bringing high-quality, purpose-built care homes to Stafford and Taverham. Both schemes have been thoughtfully designed to create comfortable, modern environments that support the wellbeing of residents and staff alike. As demand for high-quality care continues to grow, partnerships like this are essential to ensuring we can provide the right settings and standards of care for local communities."