Elevation Healthcare Properties (“EHP”), a specialist private open-ended healthcare REIT focused on UK needs-based senior housing advised by Elevation Advisors LLP (“Elevation”), is pleased to confirm that it has completed the acquisition of land and agreed to forward fund the development of a high-quality care home with Torwood Care (“Torwood”) as operator. Once completed, the home will be let on a long-term lease with RPI-linked escalator with cap and collar to Torwood, growing an existing operator relationship for EHP.
The development will provide 72 ensuite wetroom beds to the local community in Chesterfield (Derbyshire), an historic market and industrial town with a deep undersupply of high-quality care beds. The home, set to open in 2027, is prominently located and has been designed to a high specification to enhance the wellbeing of residents, relatives and staff. Amenities include a hair salon, sports lounge and family room.
The new development at Chesterfield will be a category leader in its market and has been designed to incorporate the latest environmental technology, omitting gas from its design to dramatically reduce carbon emissions in operation. The development will instead include air source heat pumps, solar panels and an all-electric design including in the laundry and kitchens to target an EPC A rating and a BREEAM In-Use rating of ‘Excellent’.
Torwood is a growing care operator with seven operating care homes and six further homes under construction and is led by an experienced management team in partnership with specialist contractor Torsion Care.
Source: press release received on 24 March 2026