Millfield Nursing Home, Bolsover
With an ageing population, there is greater need for residential nursing home care. Recognising this need, Bolsterstone has carried out a number of nursing homes schemes following identification of gaps in the local market in respect of bed provision. Millfield Nursing Home is an excellent example of this.
Following extensive demographic research we identified and proved demand for a 40-bed purpose -built nursing home in the North Derbyshire town of Bolsover.
Bolsterstone then sourced a 1.5 acre site, which was purchased from a house builder implementing a large-scale residential scheme and the nursing home became an element of mix for the project as a whole.
An operator for the completed premises, in this instance St Andrew’s Homes, was identified and in conjunction with the site purchase, Bolsterstone put in place an agreement to lease with St Andrew’s Homes for the completed premises, the lease being for a period of 25 years on institutional terms.
Bolsterstone then procured a building contract for the construction of the development, and project managed the scheme through to completion, a role that also involved scheme funding. The project was successfully completed, and the investment was retained by Bolsterstone at practical completion, with a value of circa £1.5m.