Elevation Healthcare Properties has acquired a site and agreed forward funding for new care home in Otley, Yorkshire.
A real estate fund advised by Elevation Advisors LLP, Elevation Healthcare Properties (EHP) will work with developer and operator Torsion Care, to whom the completed home will be let on a long-term lease.
The new home, set to open in late 2026, will provide 66 en suite bedrooms. The development will include air source heat pumps, solar panels, and an all-electric design in the laundry and kitchens to target an EPC A rating, BREEAM Construction rating of ‘Excellent’, and a BREEAM In-Use rating of ‘Excellent’.
Torwood director Martin Hutson said: “We are delighted to have agreed the forward fund on the 66-bed care home in Otley with the team at Elevation. The scheme 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. Our thanks to the Elevation team for their continued support of our business.”
James Giles, investment director at Elevation, said: “We are thrilled to continue our partnership with Torwood by adding this high-quality home into the portfolio, as we continue deployment of EHP. The care home will provide 60-80 jobs to the local community and will be built to exceed the latest environmental standards to 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 new technologies.”
