Care home developer in £20m nationwide deal
CARE home developer LNT has agreed a deal worth more than £20m with operator Country Court Care.
LNT Care Developments, which is part of the family of companies controlled by entrepreneur Lawrence Tomlinson, has agreed a deal for four 66-bed sites that are at different stages of development.
The latest deal will deliver turnkey solutions with the first, in Huntingdon, Cambridgeshire, scheduled to open in May.
A home at Cheshire Business Park in Northwich will be completed in December then – subject to planning – Welwyn Garden City and Milton Keynes in May and June 2017 respectively.
“The sale to Country Court Care is a fantastic start to 2016 for LNT,” said Matt Lowe, who became chief executive of LNT Group in 2015 .
“Demand for our purpose-built care facilities is growing rapidly as providers are recognising the need for capital investment in their portfolio. Country Court Care’s foresight in buying sites in advance is extremely prudent, as sites are now selling at the earliest opportunity.
“With the growing pressures on the local authority funded social care system growing, the need for care home environments which will attract the self-funding resident is becoming clearer.”
LNT currently has a pipeline of 14 sites which it plans to increase to 20 sites in the near future.
