Construction to Start on £8.5m Castleton Care Home
Construction of an £8.5m care home in Castleton near Cardiff is about to start. An agreement has been signed between Barchester Healthcare and property developer Castleoak Care Developments, who specialise in development projects for the care sector, to build an 80-bed home. Funding is being provided by the CarePlaces Fund, a joint venture between Castleoak and fund manager Bridges Ventures. The estimated development cost of the project is £8.5m with construction work expected to start shortly.
David Duncan, investment director of Barchester Healthcare, said: "We have worked with Castleoak on a major programme of new-build care homes across the country and are delighted by the outcome so far. We look forward to opening this home in 2015."
Castleoak's development team bought the land and secured planning permission for the project. Managing Director Steve Bucknell of Castleoak Care Developments, said: "The new care home in Castleton is our ninth development project for Barchester Healthcare. The deal adds to our strong development pipeline of new care accommodation."