Barwood completes sale of 72-bed Berkshire care home scheme

Barwood Capital has sold a 72-bed care home scheme in Bracknell Forest, Berkshire for an undisclosed sum to London-based Oakland Care.

The cleared 1.57-acre site, originally a church, is located 1.2 miles from Bracknell town centre and was purchased in April 2023 through Barwood’s regional property growth fund.

Planning permission was secured via delegated approval from Bracknell Forest in April 2024.

The news comes after Knight Frank’s 2024 Healthcare Report found that of the UK’s 480,000 bed spaces, 80 per cent of those homes are older than 20 years, while 20 per cent of bed spaces do not have en-suite provision.

Barwood completed the deal alongside its partner Perseus Land & Developments.

Andrew Barlow, head of fund management at Barwood, said: “Our partnership with Perseus is enabling best-in-class accommodation for older people at a time when the market is starved of supply.

“We expect the care home and senior living sector to continue to expand as the market matures and the UK’s older population increases over the coming years.

“Perseus’ expertise in the sector has allowed us to identify opportunities that serve to support local communities and create jobs, all while providing attractive investor returns.”

William Chambers, acquisitions director at Perseus, said: “To conclude the sale to Oakland Care completes the business plan objectives for this asset within three months of securing planning via delegated approval.

“We look forward to seeing this asset delivered and welcoming residents in the near future.

“It will be a superb setting within the mature woodland setting, while also benefiting from prominence to Ringmead.

“We wish Oakland every success for the delivery and future operations at the site.”

Richard Dooley, Director Development at Oakland Care, added: “It’s been a pleasure to work with the Perseus team in acquiring this site in Bracknell.

“The design of the home will enable us to achieve a BREEAM Excellent rating within a net zero building adding to our company wide commitments in reducing our carbon footprint.

“Oakland will soon commence the construction of the 72-bedroom care home which will provide a mix of residential, memory and nursing care across the home.

“This home will become our 12th operational home within our growing portfolio of homes in the South East.”