Octopus Capital has completed a £30 million forward funding agreement with Synergy Care Developments to deliver two new care homes in Radcliffe, Nottinghamshire, and Peterborough, Cambridgeshire.
Together, the developments will provide 152 beds and will be operated by Acacia Care under 35-year, fully repairing and insuring, index-linked leases. The homes have been acquired on behalf of the Octopus Healthcare Fund, which invests in modern care facilities across the UK.
The Radcliffe site is due to complete in autumn 2026, with Peterborough following in spring 2027. Both will be all-electric buildings, powered by air source heat pumps and solar panels, and are designed to achieve BREEAM ‘Excellent’ and EPC ‘A’ ratings.
These environmental credentials contribute to the fund’s broader ESG performance and its 2040 net zero target.
In Peterborough, the plans also include the restoration of the locally listed former Cherry Tree pub, which will be retained and repurposed as a resident’s lounge. Octopus said the design would preserve local heritage while creating a welcoming communal space.
The new projects extend the long-standing partnership between Octopus Capital and Synergy Care, following the delivery of two other homes this year — Regency Manor in Hunstanton and Ashmore Grange in New Lubbesthorpe.
Another home in Burton-upon-Trent, also developed through the partnership, is currently under construction and due to complete early next year.
Max Weitzmann, 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, added: “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.”
