Perseus News

Perseus Land & Developments appoints senior development surveyor

Perseus Land & Developments, the developer of bespoke care homes and residential accommodation for older people, has appointed Holly Pullinger as senior development surveyor one year after the firm launched.

Holly has joined from Octopus Real Estate where she worked for five years focusing on development management, investment and asset management, including the acquisition of primary care property totalling £30 million. Holly gained a MSc Real Estate from the University College of Estate Management, Reading and a First Class Honours in LLB Law from the University of Surrey. Holly’s role at Perseus is to work alongside other members of the development team on the acquisition of new opportunities, the delivery of build-outs, and management of existing and new relationships with healthcare operators.

Perseus was launched by care homes’ specialist Duncan Ford in September 2018 with a funding partnership with Barwood Capital, the Northampton-based UK regional real-estate development and investment specialist, to source sites for its Barwood Regional Property Growth Funds. The partnership recently announcement that they had successfully acquired five care home sites across the UK to deliver more than £55 million GDV and 347 beds with further sites in the pipeline.

Duncan Ford, managing director, Perseus Land & Developments said: “Our first year has been strong in terms of site acquisitions, owing much to Barwood’s financial capabilities and our USP of being able to acquire compelling sites without planning consent in place and/or which are too large for our competitors. This enables us to deliver more opportunities and invest in local communities to build high-quality care homes, meeting the needs of older people while also delivering healthy investor returns. With various pre-let discussions taking place with care home operators and our strong pipeline, we have been able to expand the team. We warmly welcome Holly who has strong public and private healthcare sector experience and a legal background which I have no doubt will be of benefit as we continue to grow the business.”

Holly Pullinger, senior development surveyor, Perseus Land & Developments added: “I was looking to bring my property and legal experience to a business that has a clear vision and an ability to source exceptional sites. Perseus has both and I look forward to working with Duncan to deliver outstanding care homes to local communities and returns to investors.”

Duncan Ford launches Perseus Land & Developments through partnership with Barwood Capital

Care home development specialist Duncan Ford has agreed a funding partnership with Barwood Capital, the Northampton-based real estate investment manager, to launch his new business.

The new company, Perseus Land & Developments Limited (“Perseus”), has been set up by Duncan Ford who has more than twenty years’ experience in the healthcare property sector, working for Frontier Estates, 
Tilfen Land and Danescroft Developments.
He has overseen the acquisition and obtained planning permission for more than fifty developments throughout the UK, from Exeter to Edinburgh including the provision of over 3,500 care home bed spaces.
Perseus will be a developer and facilitator of bespoke residential accommodation for older people who have both emerging and acute care needs including sheltered housing, extra care housing and new care homes.

The partnership will see Barwood Capital fund the acquisition of sites with Perseus as development manager.  The Barwood 2017 Fund closed earlier this year with the capacity to invest in £150m of regional property opportunities.

Joanna Greenslade, managing director of Barwood Capital said: “We are delighted to be partnering with Duncan Ford and his new company Perseus. This will give our investors access to some exciting opportunities in a growing and under-supplied market with an outstanding development manager.”

Duncan Ford, managing director, Perseus Land & Developments Limited added: “Barwood Capital is an excellent fit for Perseus due to its commitment to invest in regional land and development opportunities outside London. There is an underlying need for specialist accommodation for older people which is truly nationwide. Together we will be able to unlock opportunities across the risk spectrum to help deliver the ever-increasing demand for care homes.”