Healthcare provider, Barchester Healthcare, has signed a 35 year lease agreement with construction firm, Castleoak to develop an 80-bed care home in Castleton near Cardiff.
The £8.8m project, set to begin this month, will be funded by the CarePlaces Fund, which is a joint venture between Castleoak and investor Bridges Venture, solely focusing on building high quality homes for older people.
David Duncan, Investment Director of Barchester Healthcare, said, “We have worked with Castleoak on a major programme of new build care homes across the country and are delighted by the outcome so far.”
He added, “Delivering high quality care in first-class care homes is at the heart of Barchester’s ethos and through these collaborations with Castleoak we provide stunning buildings and develop strong links within the local community.”
Castleoak has built 22 care homes for Barchester Healthcare within the last 12 years, equating to over 1,400 care beds.