Berkeley Assets sees exceptional returns from investment in assisted living

Private equity firm's venture in growing 'extra care' market revives story of market town's hat-making heyday

  
Mike Clark

Mike Clark

Dubai: Berkeley Assets, the international private equity firm with offices in the Middle East, Europe and Latin America, says its latest investment into assisted living opens up significant opportunities into a fast-growing UK sector.

The company announced from its Dubai regional office today that it has placed equity finance for the construction of up to 70 apartments on the site of a centuries old mill at Atherstone, North Warwickshire in a government-approved social housing project.

Government support for the project, which is being undertaken by developer Atherstone Britannia, will guarantee a buyer on completion and ensure there are people ready to occupy the new apartments.

“Assisted living in the UK is massively underserved and there is a growing demand from people across the country who prefer this option to sheltered housing or nursing homes,” said Mike Clark, Partner at Berkeley Assets.

“Our partnership with Atherstone Britannia offers us a healthy share of capital appreciation, and there is a strong and consistent long term growth outlook.”

Omar Jackson, Partner at Berkeley Assets added: “The project is expected to generate an annualised return of 33% upon completion, and we look forward to using this deal as a template to gain more exposure to the assisted living market in the UK over the coming months and years.”

The development of the Britannia Works Mill, a listed building, revives the story of how the market town of Atherstone thrived as the centre of the UK’s hat-making industry in the 17th century. This continued until the mill, the town’s last factory, closed in 1999.

Assisted living, also known as ‘extra care’ offers people the chance to live independently in a secure environment while having access to extra care whenever they need it.

The Atherstone Britannia project has planning for up to 70 units consisting of 35 one-bedroom and 35 two-bedroom apartments, all of which offer assisted living with no restrictions.

“Final planning is expected within eight weeks and project completion is set within 21 months,” said Jackson. “Warwickshire has the ideal demographic for assisted living with an ageing population and a growing demand for extra care.”

Berkeley Assets’ UK office recently received the official stamp of approval from the Financial Conduct Authority (FCA), one of the largest and most respected financial regulators in the world, as an approved representative.

The company is currently undergoing a global expansion, having recently opened new offices in Marbella and Mexico City while others in Africa and the Far East are set to follow throughout 2019 and 2020.

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About Berkeley Assets
Berkeley Assets is a multi-asset company with a strong, diversified portfolio of investments across the real estate, hospitality, logistics and technologies sectors.  For more than a decade, Berkeley Assets’ founders have been utilising personal and institutional capital to invest in and manage an innovative portfolio of projects and businesses to deliver strong, sustainable yields. 

The values of the company today remain the same as when it started: a steadfast focus on capital preservation, achieved by investing in real estate projects and asset-backed businesses with elicit strong market demand. 

The company is regulated in the UK by the Financial Conduct Authority (FCA), authorised representative licence number 840408 (Berkeley Capital and Asset Development Limited).

For more information, visit www.berkeley-assets.com.
For further press information please contact:
Lindsay Johnston / Sean Muir
Total Communications
Tel: + 971 4 4281502
Email: lindsay@totalcompr.ae  /
sean@totalcompr.ae 

© Press Release 2019

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