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Grafton land sale to see delivery of 60-bed care home
JMW Solicitors has advised Grafton Land and Property on the sale of a key Oxfordshire site, which will see the development of a new specialist care home.
The Burford plot has planning permission for a 60-bed care home, which Porthaven Care Homes will now bring forward having acquired the site.
The development will be the latest addition to the growing Porthaven Care Home portfolio, which comprises 17 modern, purpose-built care homes for the elderly.
Tony Cole, managing director of Grafton Land & Property, said: “We are very pleased to be able to work with Porthaven to provide a much-needed facility for the residents of Burford. Overlooking Burford Golf Course, the care home will provide excellent care in beautiful surroundings, with facilities including a cinema, café, salon and private dining in-house, along with the usual therapy and activity rooms.
“It is vitally important that the UK is making adequate provision for elderly care - in 2016 there were 1.6m people above 85 in the UK, but by 2041 that figure is forecast to reach 3.2m. We need to be building additional capacity to the tune of 10,000 beds per year in order to meet current and future need. Much of the existing stock requires replacement and refurbishment, so it’s always positive to see the likes of Porthaven investing in the future with the creation of new facilities. The team at JMW has been central in getting this deal over the line, steering a complicated process involving several parties.”
Thomas Pearson, Real Estate Partner at JMW Solicitors, said: “There is acute demand for care home beds throughout the UK, so it’s fantastic to be able to play a role in supporting the delivery of new facilities like this, particularly those that address specialist needs such as dementia. There is currently a 69.7% under-provision of care home beds across England and Wales, and specialist facilities are still being overlooked.
“We’re very pleased to have concluded another successful deal and we look forward to working with Grafton in the future, helping to close the gap in supply for much-needed care home beds.”
Grafton Land & Property is a specialist development company that secures land with the potential for care use, designing and securing planning approval for elderly care residential and nursing facilities.
Porthaven Care Homes was advised by Pinsent Masons.
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