“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”
– Max Weitzmann – Octopus Capital
Octopus Capital has agreed a forward funding deal to deliver two purpose-built care homes in Staffordshire and Norfolk, through its Octopus Healthcare Fund (OHF), which channels long-term capital into modern care home developments across the UK.
The homes are being developed by Abora Developments, part of Xanadu Care Group, and will be operated by Avery Healthcare. Together, they will provide 136 beds: a 66-bed home in Stafford and a 70-bed facility in Taverham, just outside Norwich.
Both are currently under construction, having broken ground in 2025, and are expected to reach practical completion in early 2027.
Sustainability has been central to the design of both schemes. Each home is targeting an EPC A rating and BREEAM In-Use ‘Excellent’ certification, will be fully electric, and powered by air-source heat pumps, in line with Octopus Capital’s goal of delivering net zero care home developments by 2030.
Avery Healthcare will take both assets on 35-year leases, generating long-term stable income for OHF investors. The transaction brings the number of Avery homes within the fund to ten, making the operator the fund’s third-largest tenant.
“This investment reflects our continued focus on delivering high-quality, sustainable care homes that meet the needs of an ageing population,” said Max Weitzmann, investment director at Octopus Capital.
“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, said the deal extended an already productive relationship. “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, chief executive at Avery Healthcare, said the schemes would address growing local demand for quality care. “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.”
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