Home Finance Elevation Healthcare Core Plus: Development of two care homes in Shrewsbury and Stoke

Elevation Healthcare Core Plus: Development of two care homes in Shrewsbury and Stoke

by Kirsty Kirsty

Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Core Plus
(“EHCP”), a real estate fund advised by Elevation, has completed the acquisition of land and a forward
funding agreement to support the development of two new, state-of-the-art, 66-bed care homes in
Shrewsbury and Stoke, from LNT Care Developments (“LNT”). Once built, the homes will be let to a
subsidiary of Ideal Carehomes Limited (“Ideal”).

Ideal are a well-renowned operator of over 30 homes across multiple regions in England, with a strong
reputation for providing high-quality care and service in a luxury modern environment.

The homes will be built to best-in-class standards with full en-suite wetrooms and strong
environmental credentials, which include solar PV across the whole roof space, battery storage units
to capture excess energy during the day, ground source heat pumps and no gas boilers. The
properties, which will create 60-80 jobs for the local communities respectively, will be let on a long-term lease with RPI-linked escalator with cap and collar.

Andrea Auteri, Managing Partner at Elevation said: “we are thrilled to begin our partnership with Ideal Carehomes by adding two homes into the portfolio, as we continue deployment of our EHCP real estate fund. LNT are renowned for their excellent quality homes and we look forward to practical completion in late 2022. Additionally, we are excited to have two of the most sustainable homes Elevation Advisors LLP is an appointed representative of Langham Hall Fund Management LLP, an entity which is regulated and authorised by the Financial Conduct Authority of the UK. constructed by LNT in our portfolio, continuing to grow both our environmental and social ambitions as an organization.”

Matt Lowe, CEO at LNT said: “LNT Care Developments is delighted to partner once again with Ideal
Carehomes and Elevation in providing another high quality residential care home to improve the lives
of people in the local community.”

Stacey Linn at Ideal said: “Ideal Carehomes are excited by the prospect of working with Elevation in
the development of these 2 fabulous, purpose-built care homes. Both Shrewsbury and Stoke are new
locations for Ideal Carehomes and we look forward to working in partnership with Elevation and LNT
to provide fantastic places to live alongside great career opportunities for people looking to make a
difference in the local community.”

Knight Frank worked as advisor to LNT.

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