Forward funding deal agreed to deliver £14.5m care home

Octopus Real Estate, part of Octopus Investments and a specialist real estate investor and lender, has confirmed a forward funding agreement for the development of a new care home in Hipperholme, Halifax.

The £14.5m purchase will provide 72 beds to an area with a significant undersupply.

The forward funding is being provided to Burghley Care, the joint venture partnership between care home operator Park Lane Healthcare, and developer Torsion Care.

Park Lane Healthcare is a new operator joining the Octopus Healthcare Fund. The care home is expected to reach practical completion in August 2026.

Max Weitzmann, investment director – care homes, Octopus Real Estate, said: “This new care home will not only provide much-needed beds in Hipperholme, but will also set a national benchmark for sustainable and high-quality care facilities; of key importance to Octopus as we are committed to delivering 100 per cent net zero care homes by 2040.

“The agreement marks the continuation of our relationship with well-positioned developer Torsion Care, while providing an excellent opportunity to bring Park Lane Healthcare into the Fund, along with Burghley’s strong pipeline of sites across the region.”

Chris Lane, chairman, Park Lane Healthcare, said: “This project marks an exciting milestone for Park Lane Healthcare as part of our joint venture with Torsion Care.

“Through Burghley Care, we’re combining decades of operational expertise with innovative development capability to deliver a new standard of care.

“The purpose-built home in Hipperholme is just the beginning of what we believe will be a transformational pipeline across the region, offering the highest quality care and addressing increasing demand for residential support.”

Ian Ward, managing director, Torsion Care, added: “We are proud to announce this forward funding deal with our funding partner Octopus Real Estate and the formation of a new joint venture partnership with Park Lane Healthcare under the Burghley Care brand.

“This joint venture marks an exciting new chapter for our business, as we work towards delivering high-quality, purpose-built care environments that meet the evolving needs of our ageing population.

“The support and confidence shown by Octopus Real Estate reflects our shared commitment to long-term, sustainable care solutions.

“Together with Park Lane Healthcare, we look forward to creating homes where residents feel safe, valued, and truly at home.”