Barwood and Perseus complete sale of 72-bed care home scheme to Oakland Care

Barwood Capital (“Barwood”), a leading UK based real estate investment and development platform, with its partner Perseus Land & Developments (“Perseus”) has  completed the sale of a consented 72-bed care home scheme in Bracknell Forest, Berkshire, for an undisclosed sum.

The cleared 1.57 acre site, originally a former church, is located 1.2 miles from Bracknell town centre and was purchased in April 2023 through the Barwood Regional Property Growth Fund V, with planning permission being secured via delegated approval from Bracknell Forest in April 2024.

The acquisition was made in 2023 and the conclusion of the sale in July 2024 will allow for the capital to be recycled within the fund.

The news comes as Knight Frank’s 2024 Healthcare Report states that of the UK’s 480,000 bed spaces, 80% of those homes are older than 20 years with an alarming statistic that 20% of bed spaces do not have en-suite provision.

Andrew Barlow, Head of Fund Management, Barwood, said:

“Our exciting partnership with Perseus is enabling best-in-class accommodation for older people at a time when the market is starved of supply.

“We expect the care home and senior living sector to continue to expand as the market matures and the UK’s older population increases over the coming years.

“Perseus’ expertise in the sector has allowed us to identify opportunities that serve to support local communities, create jobs, all while providing attractive investor returns.”

William Chambers, Acquisitions Director, Perseus, added:

To conclude the sale to Oakland Care completes the business plan objectives for this asset within 3 months of securing planning via delegated approval. Good sites sell well and we were very pleased to work closely with Oakland on an exclusive basis. The collaborative approach ensured we navigated the planning process efficiently with the end result being a home that is bespoke for Oaklands operations.

We look forward to seeing this asset delivered and welcoming residents in the near future. It will be a superb setting within the mature woodland setting whilst also benefiting from prominence to Ringmead. The project was delivered ahead of forecast which is always nice to achieve. We wish Oakland every success for the delivery and future operations at the site.”

Richard Dooley, Director Development,  Oakland Care, said:

It has been a pleasure to work with the Perseus team in acquiring this site in Bracknell.  The planning and design process was managed collaboratively by both parties achieving an excellent outcome.  The design of the home will enable us to achieve a BREEAM Excellent rating within a Net Zero building adding to our company wide commitments in reducing our carbon footprint.

Oakland will soon commence the construction of the 72-bedroom care home which will provide a mix of residential, memory and nursing care across the home.  This home will become our 12th operational home within our growing portfolio of homes in the south east of England.