Canada Life Asset Management today announces it has financed a £20 million project with developer, Frontier Estates for the construction of a care home for The Orders of St John Care Trust (OSJCT).
The 65-bed premium value care home, called Wellford Gardens, is arranged over three storeys on a site located in Wheatley just outside of Oxford. The state-of-the-art building provides residents with luxury ensuite bedrooms together with amenity space, including private patios and dementia-friendly landscaped communal spaces within a generous site area of 1.38 acres.
Following the recent completion of construction by contractor, Lawrence Baker, The Orders of St John Care Trust took up occupation and entered a 40-year lease of the property.
The Orders of St John Care Trust is one of the UK’s leading not-for-profit care providers. and its mission is to provide the best possible care to some of the most vulnerable members of society. As a group, the charity manages more than 70 care homes, extra care housing schemes and services for people with learning disabilities across several counties.
Michael White, Head of UK Property at Canada Life Asset Management said: “We are pleased to be supporting The Orders of St John Care Trust to provide high-quality care to those who need it most, and at a time when the number of people in the UK aged over 85 is expected to significantly increase in the coming years.1
“This transaction also demonstrates Canada Life Asset Management’s ability to provide capital to support key projects in local communities. We look forward to continuing our relationship with the teams at Frontier Estates and The Orders of St John Care Trust.”
Mike Mansell, Director at Frontier Estates said: “We are very proud to have put this whole project together and we are very pleased with the end result. We use our unique expertise in the healthcare market to lead the way and revolutionise how care home environments are being delivered in the UK.”
Tracey Wardle, Chief Financial Officer at The Orders of St John Care Trust said: “We are proud to open the doors to our newest home, Wellford Gardens. The significant investment in the luxurious surroundings, innovative care technologies and dedicated care and hospitality teams demonstrates our commitment to fostering a nurturing environment where every individual resident can thrive and feel valued, supported and well cared for.”
ENDS
Notes to editors
- The State of Health and Care of Older People, 2023, Age UK
Enquiries:
Press enquiries should be directed to:
Elle McAtamney, Canada Life, 07913 568213, elle.mcatamney@canadalife.co.uk
About Canada Life Asset Management
Canada Life Asset Management is the brand for investment management activities undertaken by Canada Life Asset Management Limited, Canada Life Limited and Canada Life European Real Estate Limited. Canada Life Asset Management Limited (no. 03846821), Canada Life Limited (no.00973271) and Canada Life European Real Estate Limited (no. 03846823) are all registered in England and the registered office for all three entities is Canada Life Place, Potters Bar, Hertfordshire EN6 5BA. Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Please note that while Canada Life Asset Management Limited and Canada Life Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.