Albion Ventures invests £16m in Berkley-run care homes

The luxury private care homes, situated in Oxford and Greater London, will each operate as independent companies.

Albion and Berkley, which will operate the facilities, each own a 50% stake in the newcos. The deal follows a similar partnership between Albion and Berkley for the 46-bed Bayfield Court site in Greater London.

Albion's capital was drawn from the Albion VCT Trust, Kings Arms Yard VCT and Crown Place VCT funds.

Albion stated its investments in the elderly care sector provide annual returns of 20%.

Companies
Both new homes are set to be opened in the autumn of 2015, with construction commencing in September this year. The sites will cater for 130 customers and aim to provide a hotel-style service including a bistro, library and spa, which is designed to encourage social interaction between residents.

People
Emil Gigov is a partner at Albion. Seamus Halton is founder and managing director of Berkley.

Advisers
Equity – Bird & Bird (Legal). 

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