Lovett Care Group partners with Royal London Asset Management to deliver new care home in Market Drayton
Royal London Asset Management has completed the acquisition of the site and will forward fund the development of a state-of-the-art 71 bed care home, working in partnership with Lovett Care Group who will develop and operate the home. The completed transaction is the first of a new strategic partnership that will deliver multiple new homes into the sector.
The new home will provide high-quality residential and dementia care, with each bedroom benefitting from ensuite wet rooms, ensuring comfort, privacy and convenience for every resident.
Residents will enjoy a range of premium amenities, including a beauty salon, cinema, café and landscaped gardens. The home will use the latest technology to enhance resident wellbeing and safety, including the latest in fall-prevention technology.
The new home is being designed to meet industry-leading sustainability standards, aligning with the ESG aspirations of Royal London Asset Management. It will incorporate renewable energy solutions including solar panels, heat pumps and smart energy systems.
Construction is scheduled to begin in September 2025, with doors opening to residents in Spring 2027. Torsion Projects Ltd are appointed as contractors. Lovett Care Group were advised by Sarah Skuse, Partner at Bevan Brittan. Royal London Asset Management were advised by Adrian Collins, Partner at Addleshaw Goodard.
Keith Crockett, CEO of Lovett Care Group, said:
“We are delighted to be expanding into Market Drayton with this exciting new development. This home will not only deliver exceptional care but also set new standards in sustainability and innovation. By working closely with our partners, we are creating a Home where residents will thrive in a safe, modern, and welcoming environment, while also contributing positively to the local community.”
Nick Short, Healthcare Fund Manager at Royal London Asset Management said:
“Our strategy is focused on the delivery of care beds within modern purpose-built homes, working in partnership with best-in-class operators such as Lovett. Market Drayton represents our 24th acquisition and this agreement will facilitate the delivery of further high-quality and sustainable homes across the UK as we continue to create a robust, scalable portfolio that meets the growing social needs of the UK’s aging population.”
The partnership with Royal London Asset Management not only secures the development of the Market Drayton project but also establishes a new forward funding structure that enables Lovett Care to execute on its long-term growth plan. The framework provides capacity to facilitate multiple future transactions of a similar scale, supporting Lovett’s strategy of expanding its portfolio of high-quality care homes across the UK.
Lovett Care Group operates a growing portfolio of high-quality care homes across the UK, which provide residential, nursing and dementia care. With a strong commitment to innovation, sustainability and community engagement, Lovett continues to set benchmarks in delivering exceptional care home environments for its residents.