Frontier Estates has completed a pre-let and forward funding agreement for four premium retirement homes.
The four new schemes in Watford, Bedford, Flitwick and Letchworth will provide a total of 308 rooms for One Housing Group, which has entered into new 30-year indexed leases on the properties which are due for completion in 2019.
Frontier was advised by Colliers International and the deal cements One Housing’s expansion into the private care home sector with the development of their new, premium brand, Baycroft, a portfolio of luxury, state-of-the-art care homes, dementia facilities and senior villages throughout London and the South East.
The new developments have been forward funded by Aviva’s REALM fund for a total commitment of approximately £70m.
