Elements Construction, the principal contractors at Calderdale House have announced their acquisition of 50% shareholding in specialist care home developers TLC Care Homes Ltd.
With construction progressing well at the site of the new West Yorkshire care home, Elements Construction explained that their working relationship with TLC since the start of the project represented a unique opportunity to invest in the future of the UK’s growing care home market.
In a statement, Elements Construction explained that following their work on the site, ‘Elements decided to invest in Calderdale House, in addition to a number of other TLC Care Homes projects … The development of the care home facilities represents another step in the continuing success of Elements Construction. The company has just completed the delivery of Appleton Point, a £10 million student accommodation project in Bradford, built within budget and ahead of schedule.’
Chris Houghton, Managing Director of Elements Construction commented, ‘We are delighted to be expanding our operations beyond design and build and JCT contracts. We will utilize our expertise in construction and cost management to deliver this and other projects on time and within budget. The directors have over 50 years of experience in this type of construction. The fact that we have committed significant funds and resources to the project is testimony to our belief in this expanding market sector.’
Previously, Elements Construction has been behind a range of projects such as the Mossbourn Academy, the Norfolk Cathedral Visitor Centre, Lambourne Conference Centre and the Picton Pool in Liverpool, with Calderdale House the latest project for the company.
Construction on the new care home facility is on course for completion in Q3 2015, with the recently approved addition of 16 specialist dementia suites also forming part of the construction. Elements explained, ‘The build programme is due to take place over 12 months, allowing contingency for poor weather preventing work from being completed on the site and remaining on target for completion in September 2015. Assembly of the framework will commence at the end of November 2014, whilst December and January will see the structure made water tight, ready to be fit out in early spring 2015.’
With the backing of Elements Construction and TLC Care Homes, work at Calderdale House is moving forward with excellent progress. With the addition of the new specialist dementia suites, it is the perfect time to invest in Calderdale House.
Offering investors an 8% NET rental return assured for 10 years and full management from an experienced care home operator, Calderdale House is an excellent care home investment.
For more information on Calderdale House, please click here.