An artist’s impression of the proposed care home in York

Elevation Healthcare Properties (EHP), a real estate fund advised by Elevation Advisors LLP, has completed the acquisition of land and agreed forward funding to support the development of three new care homes in Bridlington, New Waltham, and York for Yorkare Homes.

The homes are pre-let to Yorkare on completion, a new operator relationship for EHP.

These purpose-built care homes, comprising 190 beds in total, have been designed with a high-standard all-wetroom specification and incorporate some of the latest sustainable design and technology features, including solar panels and high-efficiency equipment for heating, hot water, and water fixtures.

These features aim to help target an EPC ‘A’ rating for each of the assets and, once completed, the homes will be certified under ‘BREEAM In-Use’ and are expected to achieve an ‘Excellent’ rating.

The homes will also deliver a positive social contribution by reducing the level of undersupply of quality care beds in their local communities as well as providing approximately 70 employment opportunities per home.

Laurence Garton, development director at Yorkare, said: “We are delighted to be working with Elevation again as we continue to expand our portfolio of award-winning care homes.

“Our commitment to excellence in care has put us in the top 2% of care home providers in the UK in terms of ‘Outstanding’ CQC ratings, and these three new sites will enable us to expand our provision of high-standard care environments for our residents, staff, and local communities.”

James Giles, investment director at Elevation, added: “This transaction is testament to the successful alignment of EHP with its stakeholders, fulfilling the market need for high-quality elderly care facilities that make a positive contribution to their communities.

“We are excited to support Yorkare in the next phase of its growth and are delighted to welcome it to the EHP portfolio.”