£40m investment funds three new care homes

Octopus Real Estate has announced £40m in funding for three new care homes in Durham, Worksop and Bradford, which will be added to the Octopus Healthcare Fund’s portfolio of over 100 homes.

The new care homes will provide more than 200 beds, each with a private wet room, and are part of a partnership with care home operator Torwood Care.

Developed by Torsion Care, the homes will be fully electric, using air source heat pumps and solar panels, with plans to achieve a BREEAM ‘Excellent’ rating to support sustainability and net zero goals.

The acquisitions represent sites three, four, and five in a seven-home forward funding portfolio with Torwood Care, a joint venture between Torsion Care and Tanglewood Care.

The homes are expected to open in the first half of 2026.

Forsters provided legal advice on all three acquisitions.

Max Weitzmann, investment director of Care Homes at Octopus Real Estate, said: “We’re pleased to build on our partnership with Torwood Care, an experienced and well-respected operator. We have now worked together on the development of five best-in-class elderly care homes across the UK, totalling over 350 beds.

“It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes that are fit for the future and meet the needs of society. We look forward to working with Torwood on additional developments going forward, working together to address the undersupply of high-quality care beds across the UK.”

Nick Kempster, director at Torwood Care, said: “At Torwood, we believe that everyone has the right to live in a home that is fit for their needs, and we take great pride in providing quality care in comfortable, relaxed and homely surroundings. The developments we have funded with the Octopus team are a prime example of that commitment;  we’re delighted to be working with Octopus Real Estate to fund and operate these three purpose-built care facilities.”