Browne Jacobson has successfully advised Nottingham based developer Charterpoint on the sale of a 1.2 acre care home development site in Thurnby(Leicestershire) to care home operator Cinnamon.
The Browne Jacobson team was led by Kassra Powles, supported by Melanie Hilton (banking), Katie Briggs (property) and Rebecca Burge (tax).
The site will be used for the construction of a 73-residential care home including resident lounges, dining and relaxation areas, a cinema room, hair and beauty facilities, café and private dining, terraces and landscaped gardens and a number of electric car charging points.
Charterpoint is a Nottingham based propertydevelopment company specialising in the design anddelivery of high quality sustainable homes for older people, including care homes, independent and assisted living accommodation.
Charterpoint MD Giles Nursey said: “This first-class scheme will create an attractive care home for the area, which we identified as having a shortfall in purpose-built care home provision. It will also provide important local job opportunities. As an East Midlands-based senior living developer, Charterpoint is delighted to have sold the scheme to Cinnamon who will now take it forward to the development stage.”
Real estate senior associate Kassra Powles, added:“We are delighted to have advised on the sale of the site to Cinnamon and is the latest in a series of recent deals we have advised Charterpoint on in the care sector.
“This deal is an indication of the strong investor appetite and demand, particularly for high end care homes. As such we are optimistic that the resurgencein the healthcare development market will continue into the second half of 2022.”