Gorse Stacks, Chester
Location - Chester | Service - Forward Funding
Forward funded a purpose built £18.5 million multi practice health centre in Chester City Centre.
The landmark building on Delamere Street will comprise a high quality NHS integrated resource centre (to be known as ‘The Fountains’) accommodating various NHS facilities, a pharmacy and four GP Practices.
The building forms part of a larger development incorporating offices and luxury apartments (with subterranean car parking) all within the prime central business district of Chester.
Simon Lovell, Development Director at Watkin Jones Group, commented: “Watkin Jones is delighted to have worked closely with the JLL team using their expertise to secure the funding deal and look forward to delivering a unique, high quality development.”
Circle Bath, Bath
Location - Bath | Service - Sale
The JLL team, using expertise from Corporate Finance and Healthcare transactional services, sold a state of the art private hospital near Bath to Medical Properties Trust (MPT); a US specialist Healthcare REIT. The hospital was acquired for £28.5 million ($50 million) and is let to Circle Hospital (Bath) Ltd.
Our global reach enabled us to market the asset to our global client base, which helped us find the right investors and ultimately achieve the best price for our client.
CircleHealth has worked with JLL over a substantial period of time. During that time the two companies have forged a mutual respect and an extremely positive working relationship, which has resulted in JLL successfully forward funding CircleReading and completing the investment sale of CircleBath to MPT. JLL consistently provide professional and timely advice and we are delighted to see the team go from strength to strength.
Location - Dorset | Service - Forward Funding
JLL’s Healthcare team, part of the firms Alternatives Group has secured an investment grade tenant and sourced funding from the specialist healthcare property investor Octopus Healthcare for a proposed new 75 bed care facility in Ferndown, Dorset.
Care UK will occupy the property which will form part of a larger high end residential development scheme currently under construction by Pennyfarthing Homes, from post completion in mid-2016 for a term of 35 years. The investor will benefit from annual fixed uplifts linked to RPI.
Freddie Richards, Octopus Healthcare, added: “The local demographics and setting make this a prime and highly desirable care home development opportunity. We are delighted to have added it to our portfolio and to have extended our relationship with Care UK. JLL was instrumental in unlocking this opportunity for all parties and ensuring a smooth and quick transaction process.”
JLL’s Healthcare team combines sector leading knowledge and advice with proven transactional acumen to deliver outstanding service to healthcare investors, lenders, operators and developers. We work across the senior living, private and public healthcare sectors, including Primary Care Developments and GP practices/pharmacies, dentists and education along with development land.
Our market leading team is one of the largest and most experienced in the sector, housed in our London, Bristol, Leeds and Edinburgh offices.
“ The unprecedented growth in the population aged over 75, coupled with the existing building rate, suggests a supply shortfall of 290,000 care home beds by 2035 ”