HPC acts for purchaser in market leading deal

HPC has concluded yet another deal in the care sector, on behalf of Macc Group, agreeing the acquisition of a proposed retirement community development in Solihull from Octopus Real Estate.

HPC has concluded yet another deal in the care sector on behalf of Macc Group, in agreeing the acquisition of a proposed retirement community development in Solihull from Octopus Real Estate, with the purchase completed a mere 8 weeks from agreeing heads of terms. Octopus Real Estate had acquired detailed planning permission to convert the existing Grade II* listed Tudor Grange House and surrounding grounds to create 44 assisted living units and a 64-bed care home. The site is set within 5 acres of stunning mature grounds, and is highly accessible with complementary adjoining uses. It is also close to major retail hubs, Solihull railway station and Solihull hospital.

Ashley Heath, development director at Octopus Real Estate, commented: “Tudor Grange House was the former stately home and grounds of Sir Alfred Bird of Bird’s Custard fame. The building and its surroundings are steeped in local history, and as such we always felt it would make an outstanding retirement community. We are delighted that Macc Group will realise this vision and we wish them every success with the development.”

Macc Group remarked: “Solihull has been a key acquisition target for us for some time now and Tudor Grange has proven to be an exciting opportunity for us to expand our operations. It is our intention to deliver and operate a market leading, heritage led development, which Solihull and this beautiful site deserves”.

Ian Wilkie, director at HPC, acted for Macc Group and commented: “We have worked with Macc over the years and were pleased to be involved in securing this site for them. We look forward to what will be an exciting development and working closely with Macc in delivering their ongoing growth strategy and vision”.

Matthew Drysdale, director at Carterwood who acted oin behalf of Octopus, concluded: “Tudor Grange proved to be a very popular development opportunity, with interest coming from a range of operators and developers. Macc Group set themselves apart from the pack through offering, and ultimately delivering on, very timely terms, ultimately completing their purchase just 8 weeks after agreeing heads of terms. We look forward to witnessing Macc deliver their exciting plans for the scheme”.

June 2019