- Founded in 2004 by Rachel Beverley-Stevenson and her father Michael Beverley, OneMedical Property develops, owns, and invests in NHS occupied healthcare premises across the UK;
- The capital from OakNorth Bank will be used to initially develop three new medical centres in Northwest London, Essex, and Wigan;
- The remainder of the capital will be used to progress OneMedical Property’s strong pipeline of health-anchored developments across the whole of the UK;
- The UK’s population continues to age, with the old-age dependency ratio (OADR) set to increase significantly from 280 in 2020 to 352 by 2041[1], heightening the need for greater medical services.
OakNorth Bank, the neobank for entrepreneurs, by entrepreneurs, has provided a £30m facility to One Medical Property Holdings Limited, part of OneMedical Property, to grow its portfolio of medical centres across the UK.
Founded in 2004 by Rachel Beverley-Stevenson and her father Michael Beverley, OneMedical Property develops, owns and invests in NHS occupied healthcare premises across the UK. By specialising in the design, investment, management and development of medical centres, the company previously built up a property portfolio of 12 sites, totalling 60k sqm, before selling it to MedicX in June 2018. OneMedical Property has grown to be a market-leading property partner for the NHS, having built and invested in £70m of patient-centred, innovative, primary and community care premises since its launch.
The capital from OakNorth Bank will be used to develop three multi-tenanted health and wellbeing centres in Northwest London, Essex, and Wigan, alongside helping to progress OneMedical Property’s strong pipeline of health-anchored developments across the whole of the UK. The funding will also support the company’s growing sale and leaseback portfolio of health buildings in Staffordshire, Lincolnshire, Merseyside and the Southwest of England.
Rachel Beverley-Stevenson, Property Director of OneMedical Property said: “We’re firm believers that everyone across the UK should have good health and well-being delivered from spaces that help encourage this. The funding from OakNorth Bank will play a vital role towards fulfilling, and exceeding this ambition, providing us with the capital we need to build our portfolio of health buildings centres around the communities they serve. Each one of our schemes is tailored to the needs of the local population and responds and enhances the environment they are located in, both from a design and an outcome focussed care delivery perspective. Deepesh and his team had a detailed and thorough knowledge of the UK’s healthcare sector and were highly attentive and entrepreneurial throughout the entire process, making them our ideal funding partner.”
Deepesh Thakrar, Senior Director of Debt Finance at OakNorth Bank, said: “OneMedical Property has a wealth of experience not only in the healthcare sector in which they operate but across business management too. The company’s track record in the market of acquiring, developing and investing in high-quality health buildings speaks for itself, with this transaction providing us with an excellent opportunity to support an impressive business. As the UK’s population continues to age, the importance of having a greater number of medical centres at the heart of local communities rises significantly, with OneMedical Property being the ideal business to provide such sites. We look forward to working with the team again on future developments and acquisitions moving forward.”
ENDS
Notes to editors
[1] ONS – Overview of the UK population
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.
Since its launch, the bank has:
- Lent over £9.5B, directly helping with the creation of 39,000 new jobs and 28,000 new homes across the UK.
- Raised deposits from c.175,000 savers.
- Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
Contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588