Queen Mary’s Care Home

Bridges Property Alternatives Fund III

Care home and assisted living scheme adjacent to Queen Mary’s Hospital in Sidcup

  • Theme

    Underserved Markets, Health & Well-being

  • Date of Initial Investment

    20151201

  • Bridges Executives

    Simon Ringer
    David Schlegel

  • Management Team

Challenge: The UK population of over-60s is due to increase by 20% between now and 2027, with the fastest growth among the over-85s (the number of whom is projected to more than triple to 7 million by 2081). As a result, demand for quality care homes is rapidly rising. Yet over 70% of current stock is older than 15 years, which means provisions risk becoming out of date. With the dramatic rises in the predicted incidence of dementia and other age-related illness, there is a growing recognition that the sector needs to develop specialist services and facilities, and to ensure continuous quality improvements.

Investable solution: Bridges has acquired the freehold interest in a 3.1-acre site immediately adjacent to Queen Mary’s Hospital in Sidcup for £7.2m in partnership with Castleoak. This follows the completion of 14 successful care home development projects in partnership with Castleoak in previous funds. The site currently has planning consent for a 60-bed care home and a 47-unit assisted living scheme.

Outcomes: The development will provide much needed care facilities to the local area and should include a range of environmentally friendly construction initiatives where viable.

 

Related News & Views

Looking for investment? Click here to get in touch