New Care snaps up Leeds care home site
New Care has acquired a site to build a 70-bed care home in the northern suburbs of Leeds.
The development located on the edge of the village of Adel in West Yorkshire will also feature six residential bungalows.
The as yet unnamed care home will feature fully furnished private bedrooms with ensuite wet rooms, a selection of communal lounges and dining rooms, a hairdresser, nail bar and extensive landscaped gardens.
The gross development value of the project is anticipated to be around £20m.
New Care currently operates seven care homes across Greater Manchester, Cheshire, Lancashire and Nottingham, with two further care facilities under construction.
“The completion of this deal means we can now make a start on site in Adel, delivering a much needed, purpose-built 70 bed care home and six residential bungalows,” said New Care chief executive Chris McGoff.
The acquisition of the land was completed with the assistance of finance outfit Beaufort Capital.
The debt facility from Beaufort will also fund construction of the care home.
Beaufort director Joe Flaherty added: “There is a structural undersupply of quality, purpose-built care homes all across the UK that cater to a wide range of medical needs, especially dementia.
“We look forward to working with the New Care team as this project takes shape over the coming months.”