OCTOPUS Real Estate, part of Octopus Investments and a specialist real estate investor and lender, has announced £40million of funding for three new purpose-built care homes in the Octopus Healthcare Fund’s portfolio of more than 100.
These new facilities will provide more than 200 beds, each with a private wet room, having been funded as part of a strategic partnership with Torwood Care.
The sites are in Durham, Worksop and Bradford and will operate as Tanglewood Care. The homes, which are being developed by Torsion Care, will be fully electric, powered by air source heat pumps and featuring solar panels. All homes are targeting BREEAM ‘Excellent’, contributing to the Fund’s ESG performance and net zero targets.
These acquisitions mark sites three, four and five of a seven-home forward funding portfolio with Torwood Care – a joint venture partnership between Torsion Care and Tanglewood Care.
Max Weitzmann, investment director, care homes at Octopus Real Estate, said: “We’re pleased to build on our partnership with Torwood Care, an experienced and well-respected operator.
“We have now worked together on the development of five best-in-class elderly care homes across the UK, totalling over 350 beds.
“It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes that are fit for the future and meet the needs of society. We look forward to working with Torwood on additional developments going forward, working together to address the undersupply of high-quality care beds across the UK.”
The three new homes are expected to open in the first half of 2026.
Forsters LLP acted for the Fund on all three acquisitions.