Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Properties (“EHP”), a real estate fund advised by Elevation, has completed the acquisition of land and agreed forward-funding to support the development of two high-quality care homes in Gravesend and Pagham with Simply Care (“Simply”) as developer and Simply Develop as builder. Once completed, the homes will be let on a long-term lease with RPI-linked escalator with cap and collar to Simply’s Morar Living (“Morar”) brand, a new operator relationship for EHP.
The first development is a 75-bed care home in Gravesend (Kent), a large commuter town with strong transport links into London. The second is in Pagham (West Sussex) a highly sought after coastal location. Both homes have been designed to a high specification to enhance the wellbeing of residents, relatives and staff, will have wet-room ensuites throughout and amenities including a cinema, bistro and family room.
Simply are a highly experienced care home contractor, developer and operator with 14 operating care homes and a further seven developments under construction. Construction on both homes has begun and are set to open in late 2025, with an emphasis placed on environmental performance in their design. The developments will achieve an EPC A rating focussing on the eradication of fossil fuels to also deliver carbon reductions with an all-electric power supply comprising air source heat pumps and the inclusion of PV and it is anticipated that the homes will achieve a BREEAM In-Use rating of ‘Excellent’ on completion. Furthermore, the homes will each create circa 60-80 jobs for their local communities.
Thomas Meany, Investment Manager of Simply said: “We are delighted to start our relationship with Elevation and excited about further ventures with them in the future. These two new developments are great additions to the group and are being constructed to our typical high-quality standard which, along with the great caliber of facilities each home provides, helps us achieve 90%+ occupancy across the group in a short space of time.”
James Giles, Investment Director at Elevation said: “We are thrilled to begin our partnership with Simply by adding two homes into the portfolio, as we continue deployment in EHP. The homes will be built to exceed the latest environmental standards and serve the needs of the local area, then operated by a team who are committed to high-quality care and engagement with their community. We are excited to support Simply and fulfil the market need for care homes which are built for longevity and make a positive impact on their wider communities.”
All enquiries: info@elevationadvisors.co.uk
About Elevation
Elevation is a specialist investment manager in the European healthcare real estate sector with over £1.9bn of assets under management in four countries (U.K., France, Germany and Spain) spanning care homes, rehabilitation clinics and specialist assets for learning disabilities and mental health. For more information please visit our website www.elevationadvisors.co.uk.
About Simply
Simply with their operation arm “Morar” are an Operator, Developer and Builder of high quality Care Homes across the UK and Ireland with 1,013 beds currently in use and a further 520 under construction. For more information please visit our websites www.simplyuk.co and www.moraruk.co.
Image depicts Elevation Simply Care Pagham