Acquisitions drive Allegra Care expansion into East Anglia
Allegra Care and real estate fund manager Moorfield have completed the acquisition of two homes in Cambridgeshire and Suffolk from Alysia Caring, adding a further 133 beds to the partnership’s nursing, dementia and care homes portfolio.
Cherry Blossom, an 80-bed home in Peterborough, Cambridgeshire, and 53-bed Magdalen House (pictured) in Hadleigh, Suffolk, both have 100 per cent accessible, wet room ensuites.
The homes provide a range of care services tailored to residents’ needs, with options for specialist dementia care and 24-hour assisted living.
Cherry Blossom and Magdalen House also offer residents a range of community facilities and wellbeing-focused amenities, including spacious lounges and purpose-built gardens.
The acquisitions are the latest for the joint venture between Allegra Care and Moorfield aimed at creating an initial £125m portfolio of modern, fit-for-purpose nursing, dementia and care homes across the UK, in areas supported by favourable demographic trends.
Following this investment, the partnership now owns seven homes across Hampshire, Cambridge and Suffolk.
Moorfield said the purchase of the homes in Cambridgeshire and Suffolk reflects the partnership’s ongoing intention to expand its ownership of homes in the Central Eastern region of England.
“The local demographics are supportive of the demand for high quality nursing, dementia and care homes and our partnership with Allegra Care is intended to take advantage of our combined investment and operational expertise to provide exceptional levels of care to the residents,” added chief investment officer Charles Ferguson Davie.
The acquisition was supported by Allied Irish Bank (AIB) as debt provider. Allegra Care and Moorfield were advised by Cushman & Wakefield, CBRE, BCLP & Menzies.
The seller was advised by Freeths and Freemans. Halo Care acted as the selling agent.