Octopus Capital has agreed a £30m forward funding deal with Synergy Care Developments to deliver two new care homes in Radcliffe, Nottinghamshire and Peterborough, Cambridgeshire.
The two homes will provide 152 beds and will be run by Acacia Care on 35-year, fully repairing and insuring, index-linked leases.
Octopus Healthcare Fund backed the developments, which focus on modern care homes across the UK.
Completion is due in autumn 2026 for Radcliffe and spring 2027 for Peterborough.
Both homes will be all-electric, using air source heat pumps and solar panels, and target Building Research Establishment Environmental Assessment Method (BREEAM) ‘Excellent’ and Energy Performance Certificate (EPC) ‘A’ ratings.
This supports Octopus Healthcare Fund’s ESG goals and 2040 net zero targets.
In Peterborough, the locally listed former pub, The Cherry Tree, will be restored and integrated into the new home as a resident’s lounge.
This will preserve local heritage and add to the community feel.
Max Weitzmann (pictured), investment director at Octopus Capital, said: “It’s great to be working again with Synergy Care, as we continue to collaborate with their experienced team to help meet the growing demand for high-quality care provision in these two areas.
“It’s incredibly rewarding to have found such a strong partner for current and future projects, whose values align so closely with those of Octopus Capital – to deliver more modern and sustainable homes that are fit for the future.”
Jay Patel, managing director at Acacia Care, said: “We’re delighted to be continuing our relationship with Octopus Capital to fund and operate these two purpose-built care facilities.
“At Acacia we believe that everyone has the right to live in a dignified, private and respectful environment, and the homes we have funded with the Octopus team are a prime example of that commitment.”
