Patron-backed Hamberley agrees further GBP14.5m sale-and-leaseback deal on care home
Patron Capital's 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 GBP14.5 million.
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, Hamberley Care Homes, 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 is in keeping with Hamberley Care Homes’ premium style and includes 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.
The new development will be the twelfth home in the award-winning Hamberley Care Homes group. In addition to Hailsham the group has a development pipeline of sites in Basingstoke, Bedford, Brampton, Bristol, Bromsgrove, Camberley, Cambridge, Dorking, Eastleigh, Enfield, Edwalton, Keynsham, Southampton and West Byfleet. The group is also actively acquiring land and existing operating businesses and has over £180m of equity capital allocated for healthcare investment.
Last month Hamberley Development sold its newest care home, the 69-bedroom Richmond House, in Ampthill, Bedfordshire, to Aedifica in a sale and leaseback transaction, with Hamberley Care Homes leasing back the building over a 25-year period.
Keith Breslauer, Managing Director of Patron Capital, says: “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, says: “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.”
In 2019 Hamberley Care Homes was named Residential Care Provider of the Year by HealthInvestor Magazine and was recently shortlisted for the LaingBuisson Property Developer Award 2020. Patron Capital has also been shorted at the 2020 LaingBuisson Awards, in the Property Investor category.