Elevation completes two care home transactions with Torwood

  • 16th April 2024

Abbey Wood Lodge in Ormskirk

Elevation Healthcare Properties (EHP), a real estate fund advised by Elevation Advisors LLP, has

The operating care home, Abbey Wood Lodge in Ormskirk, is built to best-in-class standards with full en-suite wetroom provision and has strong environmental performance, with an EPC ‘A’ Rating.

In line with EHP’s existing strategy, the property is let to Torwood on a long-term lease with RPI-linked escalator with cap and collar.

Torwood is a leading care operator with two operating care homes and more than five developments under construction, led by experienced management team in partnership with specialist contractor, Torsion.

The new development at Huddersfield has been designed to incorporate best-in-class environmental technology, eradicating gas from its design to dramatically reduce carbon emissions.

The development is working to achieve a biodiversity net gain in excess of 10% on the site and targeting an EPC ‘A’ rating.

An artist’s impression of the proposed new care home in Huddersfield

Martin Hutson, director of Torwood, said: “We are delighted to have agreed the lease on the operational 60-bed care home at Ormskirk and the forward fund on the 61-bed care home at Huddersfield with the team at Elevation.

“These two schemes will further strengthen our existing care home portfolio and provide much-needed, high-quality care for local people.

“All the Torwood portfolio consists of EPC ‘A’ and BREEAM ‘excellent’-rated homes, which provide high levels of sustainability and carbon reduction.

“This aligns strongly with our fund partners’ strategy and we will continue to innovate the development of our homes to deliver some of the most-modern and carbon-efficient care homes in the sector.”

James Giles, investment director at Elevation, added: “We are thrilled to begin our partnership with Torwood by adding two homes into the portfolio, as we continue deployment of EHP.

“Abbey Lodge Care Home will be operated by a team who are committed to high-quality care and engaging with their community; and the new care home in Huddersfield will be built to exceed the latest environmental standards and serve the needs of the local area.

“Torwood’s strategy for progressing ESG and sustainability is strongly aligned with that of Elevation and our aspirations of operationally net-zero assets, taking steps to reduce carbon emissions as much as possible through the integration of alternative technologies.”

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