Investor agrees to fund 74-bed Barchester Healthcare development at Cheswick Village
MedicX Healthfund has agreed to finance the construction of a new 74-bed care home at Cheswick Village in North Bristol.
The property is being developed by Castleoak and at completion a 35-year lease will be granted to Barchester Healthcare. The high-specification, premium care home is arranged over three floors and will provide quality personal and nursing care for older people, including those with dementia.
Cheswick Village is a new community of approximately 1,400 residential units, with a school, GP surgery and local amenities, which is due for completion in 2015. It is being developed in seven phases and Cheswick Village Barchester forms part of the Aurora Springs phase.
Mike Parsons, founder and chief executive of Barchester, said: “We are very proud of all our homes and believe Cheswick Village provides a clear opportunity to deliver a high-quality care environment. We work hard to grow each community with residents and staff to ensure every one of our properties becomes ‘a home’.”
Tim Meggitt, chief operating officer of MedicX, added: “I am delighted to announce this addition to the MedicX Healthfund portfolio. We are committed to working with first-class operators and investing in best-in-class healthcare properties. This may be the first agreement between MedicX, Barchester and Castleoak, but it is clear that we all share a common focus in the delivery of high-quality care environments.”