Transforming retail space into healthcare hubs in Plymouth

We invest in social real estate as part of Cushon’s Sustainable Investment Strategy, recognising that accessible healthcare infrastructure is fundamental to thriving communities. 

Our investment in Plymouth addresses two challenges at once: the changing retail landscape and the pressing need for modern healthcare facilities. 

What’s the investment? 

Located at a key site between Plymouth’s train station and town centre, our investment involves acquiring and converting a shopping centre into a co-located medical facility. 

The ground floor will house three GP surgeries operating as a single medical centre, dramatically improving healthcare efficiency and patient experience. Sainsbury’s will remain as the anchor tenant, ensuring the site maintains its role as a community hub while adapting to serve new purposes. 

What’s the impact on society? 

Access to healthcare shouldn’t depend on where you live or how easily you can travel. In partnership with the NHS, we’re helping to make healthcare more accessible and efficient for local Plymouth residents. 

The new facility will house three GP surgeries under one roof, improving coordination between healthcare providers and creating a better experience for patients. This investment will help reduce appointment waiting times and enable more comprehensive care. 

The regeneration benefits extend beyond healthcare. Converting underused retail space into a thriving medical centre brings consistent footfall to the town centre, supporting surrounding businesses and residential development. 

For Plymouth residents, this means better healthcare access, shorter journey times to appointments, and a more vibrant town centre that serves the community’s evolving needs. 

Why is your money being invested this way? 

Our job is to make sure your money has the opportunity to grow for you to use in later life. This means we think carefully about which investments are fit for the future. 

Our Plymouth medical centre investment aims to deliver projected average returns of 10% per year. This reflects the strong fundamentals of healthcare demand – people will always need medical care – combined with the value we create by transforming underused property. 

This type of adaptive reuse represents the future of property investment: taking existing assets and reimagining them to serve society’s evolving needs, while aiming to deliver stable, resilient returns for our members. 

Our approach seeks to make the most of the opportunities while reducing the risks, so you can have a future that's worth retiring into. 

Important information on case studies: The case studies provided in this document are for illustrative purposes only and do not purport to be recommendation of an investment in, or a comprehensive statement of all of the factors or considerations which may be relevant to an investment in, the referenced securities. The case studies have been selected to illustrate the investment process undertaken by the Manager in respect of a certain type of investment, but may not be representative of the Fund's past or future portfolio of investments as a whole and it should be understood that the case studies of themselves will not be sufficient to give a clear and balanced view of the investment process undertaken by the Manager or of the composition of the investment portfolio of the Fund now or in the future.

Article by

NatWest Cushon