04.12.12 - PAM Attends Launch of New HCA Fund

Since the formation of Priory Asset Management LLP ("PAM") just under two years ago, it has gone from strength to strength and is now in the final stages of preparing to start building on its first site in Maghull and with planning permission granted for a second site in Kew, the coming months and years look to be very busy. 

During the last 12 months, PAM has initiated an extensive dialogue with the HCA and been very supportive of the new initiatives to "build" Great Britain out of its present financial woes. It is widely recognised that construction has a positive impact on the economy and this was born out with the introduction of the "Get Britain Building" fund ("GBB") which was launched earlier in 2012. Stuart Grundy, Senior Partner commented, "The GBB fund is a significant initiative which was introduced by the coalition government and has kicked started many sites across the UK. It is hoped that this will secure and develop thousands of jobs and stimulate the economy to the sum of hundreds of millions. The introduction of the new Care and Support Specialist Housing Fund will help to extend both the drive to build out of hard economic times but also look to improve the stock of specialist housing for an ageing population."

The HCA had a launch event for the new fund to outline the aims and objectives and some of the key drivers which will help steer the fund. A key design feature of the fund and backbone to its design is the HAPPI (Housing our Ageing Population: Panel for Innovation) initiative. HAPPI was established in June 2009 to ensure that new specialist housing meets the needs and aspirations of older people in the future.

Of the event, Stuart said, "It was excellent to hear about the introduction of the new fund and it was not surprising to see many of the larger NW based RP's present. Considering this fund will be available in due course to private developers, I was surprised that PAM appeared to be the only developer present. I am looking forward to speaking with the HCA further and as they have requested of private developers, submit thoughts and proposals for the development of the private offering."

Priory Asset Management LLP is a forward thinking property development company which seeks out opportunities to supply new, environmentally minded and socially acceptable Extra Care, Respite/Dementia Homes as well as modern business units. The style and aesthetics of these facilities will dramatically enhance the localities where they are built. 

Any press enquiries should be forwarded to Priory Asset Management LLP on 01983 297 075 or enquiries@prioryasset.com