Ashley House PLC said Home Group Ltd., one of the U.K.'s largest housing associations, acquired Ashley House's extra care housing development in the British town of Scarborough.
Ashley House reached financial close on the community wellbeing facility after receiving an initial payment. The closing will allow construction to begin, with completion expected in spring 2019.
The facility will house 63 apartments plus communal areas to accommodate older local residents with care needs. Home Group will own and manage the scheme, which has a gross development value of about £10 million.
The development is situated in part of a site already owned by Ashley House, with residual plots assigned for a housing development and a health scheme.
