Octopus Capital invests to deliver two new high-quality care homes in Stafford and Norwich

Octopus Capital, a leading UK specialist real estate investor, has agreed a forward funding deal to support the delivery of two new purpose-built care homes in Staffordshire and Norfolk.

The investment has been made through the Octopus Healthcare strategy, which invests long-term capital into modern, high-quality care homes across the UK. The developments are being delivered in partnership with Abora Developments, part of Xanadu Care Group, with the homes to be operated by Avery Healthcare, one of the UK’s leading care home providers.

Once complete, the two homes will provide a total of 136 beds, comprising a 66-bed home in Stafford and a 70-bed home in Taverham, just outside Norwich. Both schemes are currently under construction, having commenced in 2025, and are on track to reach practical completion in early 2027.

The homes have been designed to meet high sustainability standards, in line with Octopus Capital’s commitment to building new care home developments that are net zero by 2030. Both homes are targeting EPC A ratings and BREEAM In-Use ‘Excellent’ certification. As part of the delivery, the schemes will be fully electric and powered by air-source heat pumps, supporting lower carbon emissions and improved energy efficiency over the long term.

The assets will be let to Avery Healthcare on 35-year leases. This transaction further strengthens Octopus Capital’s long-standing relationship with Avery, increasing the number of their homes within the Octopus Capital portfolio to ten, making them the strategy’s third-largest tenant.

“This investment reflects our continued focus on delivering high-quality, sustainable care homes that meet the needs of an ageing population. These two developments will provide modern, purpose-built environments for residents, while supporting the long-term provision of care in their respective communities with an operater we rate, value and trust.”

“We are pleased to further strengthen our partnership with Avery Healthcare, and this transaction builds on a strong track record of working together to deliver and operate high-quality homes. We look forward to continuing to grow this relationship as we expand the portfolio.”

Max Weitzmann, Investment Director at Octopus Capital

“We’re delighted to further extend our relationship with Octopus Capital to fund and operate these two energy efficient care facilities. At Abora, quality of life and exceptional care at the forefront of our commitment to our tenants. In Octopus Capital we have found a strong partner to deliver on this premise.” 

John Strowbridge, Managing Director at Abora Developments

“These two developments represent an important addition to our portfolio, bringing high-quality, purpose-built care homes to Stafford and Taverham. Both schemes have been thoughtfully designed to create comfortable, modern environments that support the wellbeing of residents and staff alike. As demand for high-quality care continues to grow, partnerships like this are essential to ensuring we can provide the right settings and standards of care for local communities.”

Jeremy Richardson, CEO at Avery Healthcare