Patron Capital acting through its majority-owned luxury care home development business, Hamberley Development, has agreed a forward commitment to sell its next state-of-the-art care home to European healthcare REIT Aedifica for approximately c.€16m (£14.5m). The forward purchase agreement is the second deal between the award-winning Hamberley Development team and Aedifica in as many months. It will see Hamberley’s operating company lease back the building from Aedifica over a 25-year period.
The 60-bedroom Covid-secure home in Hailsham, East Sussex, is due to be completed in Q1 2021 and will welcome its first residents in the spring. The luxury home will include en-suite bedrooms throughout, a cinema, an elegant café, a bar area, a hair and beauty salon with nail bar, luxurious lounges and landscaped gardens. The home has also been designed with the highest safety standards in mind, in light of the Covid-19 pandemic. It will feature a bespoke Covid-secure visitation suite, in-built thermal imaging technology in the entrance lobby and an optimised ventilation system which ensures air in public spaces is fully replaced every 15 minutes. It will also have hand washing and hand sanitising stations throughout for staff, residents and visitors.
Keith Breslauer, Managing Director of Patron Capital, said: “We aim for our investments not just to deliver strong returns but also to have a positive impact on communities and individuals. With an ageing population and an increased focus on safeguarding older and more vulnerable people in society following the recent pandemic outbreak, our investments in the later living sector enable us to do just that. This deal reflects the exceptional quality and reputation of Hamberley’s developments and will free up funds to invest in further opportunities that are actively being sought out.”
Tim Street, Director of Hamberley Development, said: “We’re delighted to agree to this commitment with the Aedifica and Layland Walker teams so soon after our first deal last month. This forward purchase agreement, for our Hailsham development, shows the strength of our reputation for delivering the highest quality care environments, on time and on budget. The Hailsham home will meet the very highest standards for safety and infection control and sets a new benchmark for COVID-secure care settings. We are proud to be able to deliver both luxury and safety, without compromising on either front. We believe that this is what sets us apart as an award-winning healthcare development business.”