Engine of the North, a strategic property company wholly owned by Cheshire East Council, has completed the sale of the former local authority children’s home in Nantwich to Richmond Care Villages for £3.5 million. The ex-children centre will become a specialised centre in dementia care, following planning approval from last November.
The 71-bedroom new facility will create 80 jobs and will operate as a satellite campus to Richmond’s existing care village in Nantwich. The old building will get demolished and replaced with the new care home that will have a car parking, a secure garden area, and additional landscaped areas.
The Engine of the North has managed to sale a difficult and sensitive site that will now be used for the widespread support in the community. “The sale has generated a substantial capital receipt for the Council and will pave the way for a substantial investment in a much needed specialist care facility that will serve the community and create new jobs,” said Councillor Jamie Macrae, Chairman of Engine of the North.
According to the new plans, Cheshire East will retain ownership of the land to the east of the former centre, which includes a football pitch and a pond, and the public footpath.
Created in 2014, Engine of the North promotes innovative and commercial strategies to exploit the Council’s surplus assets. This creates jobs and facilitates economic growth, maximising capital receipts for the authority. The capital generated by this project will be used to support the Council’s capital programme.
“Engine of the North is a team of property professionals, whose focus is to deliver on Cheshire East Council’s objectives, with the advantage of being able to think and work as a development company,” said Jamie.
It identifies opportunities for the Council and generates new projects for inclusion in the Development Programme, while providing commercial property expertise. Together with the Council, they secure additional private sector, Government, and European funding for potential development schemes.