4th Aug 2014 08:49
LONDON (Alliance News) - Ashley House PLC Monday said it has been made preferred bidder on a contract to build a new care home and care housing scheme in Havant for Hampshire County Council, as well as winning a deal to build out a GP surgery in Essex.
The health and community care property company said it had teamed with HC One to develop the care home, and with Home Group to develop the new care housing scheme which will have over 100 one- and two-bedroom apartments.
In a statement, the company said the scheme value will be around GBP25 million.
Ashley House added that it's making good progress in talks about getting long-term funding for its growing pipeline of projects to develop social care housing. It said it is in advanced talks about two of the schemes and expects to sign contracts "very shortly".
Separately, the company said it has entered into an unconditional contract to build out a GP surgery in Essex.
Ashley House also said Executive Director Richard Darch would move to non-executive status after taking up an executive director role with Capita PLC. He will continue to promote and advise on the company's health business.
"Whilst the immediate pipeline of major health schemes is currently depressed the board firmly believes that this area of the business will grow in the medium term. Richard's move allows us to re-invest resource in the current growth areas of our pipeline," it said in a statement.
"The company continues to see a good level of activity in minor works and refurbishment projects in the Health sector and the GP infrastructure market is starting to show initial, but sporadic signs of recovery as evidenced by the Essex scheme referred to above," it added.
Ashley House shares were up 3.5% at 11.12 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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