Tyneside care home company Hadrian Healthcare agreed to sell two North homes for £50m - in a fifth multimillion-pound deal for firm's founder.
The Gateshead based business took the decision to expand its care home portfolio last year, after selling five homes in a record-breaking deal £100m-plus deal in 2019, which had marked the fourth buyout founder Ian Watson had completed over 16 years. Following the deal with Aviva, the company has been working on two North Yorkshire sites, representing an investment of £27m, with long-standing contractor Walter Thompson carrying out construction.
Its £15m care home in Skipton sits alongside Skipton canal and will come complete with its own canal boat. The home will have accommodation for 92 residents, including 12 independent living suites where residents will have their own private front doors. The home will also have its own dining and bar area, gardens and first and second floor terraces with views across the town.
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Meanwhile in Leeds, the firm spent several years on plans before gaining planning permission to build a £12m home under the Manor House brand in the Roundhay area, for 67 residents.
The company distinguishes itself from the competition by building homes designed to look and feel more like five-star hotels for its residents, with services to match alongside its healthcare provision. Facilities include restaurants and cafes, cinemas, hair and beauty salons, in-house chefs, gardens and chauffeurs.
Once the homes are complete, they will be handed over to new owners Anchor Hanover, who approached Hadrian Healthcare with the offer after being impressed by the company’s work to date.
Chairman Ian Watson said: “We’ve broken through the ceiling again when it comes to quality, at both sites. It was not our intention to sell but had an unsolicited offer for the two homes from Anchor Hanover, the company which operates the homes we sold in the £100m-plus deal to Aviva before the pandemic..
A firm pioneering investigations of cannabidoil (CBD) - an active ingredient in cannabis - has landed nearly £500,000 funding to support research and manufacturing with hope for future jobs.
Canna Group has received the sum from innovation agency Innovate UK to develop bespoke technology to manufacture CBD-HQ - an oxidised version of CBD, which occurs when cannabis or hemp is left open to the elements and is said to be more easily absorbed by the human body. The Consett-based firm says it could be the first such funding for a UK cannabis business and will now develop proprietary cannabidiol synthesis technology.
Americo Folcarelli, chief marketing officer of Canna Group, said: "Naturally, we are very pleased to receive this award from Innovate UK which will help speed-up the development of our proprietary technology for the synthesis of CBD-HQ here in the North East of England."
The Innovate funding of £472,566 comes from the ‘Innovate UK Smart Grants’ programme which was launched earlier this year. Canna's research is expected to take 15 months and if successful could lead to the creation of up to 20 jobs.
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