Appetite for care development strong

Despite political change and uncertainty, Carterwood has seen a strong appetite for care development, with the conclusion of four development sales in just 12 weeks.

Carterwood principal surveyor Matthew Drysdale explains: “Our sites are attracting high numbers of bids and are being rapidly placed under offer.

“We have sold sites in Oxford (right) and Shipston-on-Stour on behalf of long-term client, Frontier Estates. Hamberley Developments purchased the Oxford site, while independent first-time buyer, Shipston Nursing Homes, purchased the site in Shipston-on-Stour.

“The sites benefit from full planning permission for a care home and care home with extra care apartments, respectively. Combined, the developments are expected to create more than 140 new care home bedspaces. In addition to managing the sales process, we provided expert consultancy advice to support these sales.

“The third sale comprises a 3.4-acre site in Bridgend. We sold the town centre development opportunity on behalf of Edwards Construction on an unconditional basis to Linc Cymru Housing Association. Finally, the fourth transaction is in the West Midlands. It forms part of an older people’s housing joint venture creation in which we have played an integral role, acting on behalf of The Minton Group.”

Duncan Ford, development director of Frontier Estates, said: “While we are now developing out the vast majority of our care home sites, we have been very satisfied with the role that Carterwood played in marketing our sites in Oxford and Shipston, which resulted in multiple offers being received.”

Tim Street, director and founder of Hamberley Developments, added: “Our familiarity with the Carterwood research which accompanied the sales instruction meant that upon receiving details of the site in Oxford, we were able to make a quick and confident purchasing decision. We now have an excellent opportunity for Hamberley to deliver the best home in the city.”

Matthew concluded: “The sales not only represent strong market demand, but Carterwood’s national reach and the breadth of our targeted and qualified marketing campaigns. Our market-leading consultancy division, coupled with our long-term partnership approach, means we understand who is actively looking to buy in the market, and more importantly, where they are looking.”

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Health Investor 2017