DEVELOPER EYES GROWTH PROSPECTS IN CARE SECTOR
The care sector has experienced resurgence in the last quarter, and with the property market now picking up, The GB Group is seeing an increase in both development and construction opportunities.
"Finding funding for care home developments during the downturn has proved challenging," says Glenn Mills, director of GB Group's development arm. "But we have delivered two schemes representing an investment of £14m in the South, which are both good examples of what can be achieved through non-traditional routes to funding."
Work has recently been completed on a £6m project, to develop a luxurious care home in Horley, Surrey. GB Development Solutions forward sold the home to operator Gracewell Living once planning had been secured for the state-of-the-art building, where the team will specialise in dementia and respite services as well as residential and nursing care. GB Development Solutions also sold part of the original site to the Horley Baptist Church, securing planning for their new church as part of the deal.
The new care home, Amherst House, provides 60 single en-suite shower bedrooms on three floors. These are complemented by activity spaces including a WiFi-enabled library, dining spaces, hairdressing, assisted bathing and shower facilities, ancillary accommodation such as dedicated kitchen and laundry facilities, and staff facilities. The development also includes a secure landscaped garden area, with a wheelchair-friendly sensory garden.
A second £8m project in Stroud has been forward sold to Caspan Ltd. This new care home has been leased to Care UK, and is due to be handed over in June this year.
"Bringing forward sites in key locations with planning secured is helping us to draw reputable operators, which in turn is making the developments an attractive prospect for funders. It's a winning combination that has paid off for us and our determination is now paying dividends in terms of our reputation for development solutions," added Glenn.
With a total of 2,900 beds delivered in the healthcare sector to the value of £390m, and a client list which includes some of the biggest names in the industry, The GB Group is proving it is an ideal partner for operators planning new facilities.
"We urge any operator contemplating a new facility to consider getting the GB team involved at the earliest stage of the planning process. This will give them the best chance of building a facility that delivers on both price and performance," added Glenn, who works closely with The GB Group's care sector specialists, Aston Care on everything from land sourcing through to the planning process to make the care facilities the best they can be, both from the point of view of the people who live and work in them and economically.
ENDS
Notes for Editors
The GB Group is a privately owned, award winning and innovative complete property and construction solutions provider operating in a number of key industry sectors: care, student accommodation, residential (private and social), hotels and leisure, education and commercial. Property and construction solutions include site finding and development funding, full design, management and construction of new and refurbished facilities, improving operational efficiencies, through to aftercare and asset management. The 250-strong team is based in five regional offices: Surrey (Sunbury HQ); Tyne and Wear (Newcastle); Warwickshire (Rugby); West Yorkshire (Wakefield); and Cheshire (Stockport). Its specialist divisions include GB Development Solutions, GB Building Solutions, GB Care Solutions, GB Energy Solutions, Discovery Business Solutions, and GB Asset Management Solutions. For more information visit www.gbgroup.co.uk.
GB Development Solutions is the property development and investment business with an experienced and dedicated team focused on identifying appropriate sites in England and Wales across a number of sectors. The team brings a combination of strategic skills, specialist sector knowledge and key relationships enabling it to successfully secure the necessary consents, arrange innovative funding solutions and manage the delivery of a project. Prime assets include a £32m exclusive hotel development at the heart of Leeds city centre, the closest to the North's newly opened flagship entertainment venue Leeds Arena.
GB Care Solutions in partnership with sector specialists Aston Care offer a full range of services to care home operators and developers, from site finding through to complete turnkey buildings, right down to the knives and forks, using an extensive network of contacts across the industry to bring together developers and finance. Aston Care's experience of engaging directly with people living and working in care homes to understand how their lives are affected by the built environment, allows the team to bring a person-centred insight to the design and development process and through all stages of a project from first inspiration through to aftercare. For more information, visit www.astoncaresolutions.co.uk.