Barrett's Bartra to spend €1.2bn on property projects
Published 27/03/2016 | 02:30
Bartra Capital Property will invest more than €1bn in property related ventures, after it was formally launched this week.
The company, which is led by former Treasury Holdings boss Richard Barrett, is putting €1.2bn to work in the healthcare, nursing homes, housing and renewables.
Speaking to the Sunday Independent, Mr Barrett said the firm's investment plan was grouped around what he called "a common theme of the infrastructure deficit" in Ireland.
The company is focused on social housing at this point but is also investing heavily in nursing homes and medical centres.
"About 4.2pc of the population over the age of 70 will need a nursing home and if you combine that with the growing population, you can see the need for high quality nursing home facilities.
"Many homes don't have facilities for more than opne person to visit a guest at a time, there is an opportunity for high qulaity homes with suites that would allow visitors, especially when they are travelling, to stay with their loved one overnight or longer.
"It is similar with health care centres. There is a drive to bring GPs, specilaists, chemists, a cafe, and maybe a small operating theatre under one roof with carparking.
"It is good for patients in that it is a one stop shop for them, and for doctors and nurses because it is easier to arrange leave and so on.
"There is great scope for growth in these areas," he said.
Bartra will also be buying renewable energy property such as windfarms in Ireland and solar farms in the likes of southern Spain.
"There is great potential for growth in those markets," he added.