10th Jun 2019 10:38
LONDON (Alliance News) - Impact Healthcare REIT PLC said Monday it has agreed to acquire three care homes for GBP20.2 million in total, including transaction costs.
The first care home is 52-bedroom Holmesley Nursing Home in Devon, England, to be acquired for GBP5.9 million with an initial annual rent of GBP450,000.
The second asset consists of three units adjacent to the Cumberland Infirmary in Carlisle, England. Impact Healthcare will acquire a 74-bed care home Kingston Court, cancer out-patient facility Revier House, and a surgery for orthodontic care.
Collectively, the second asset will be acquired for GBP9.5 million, with annual rent of GBP365,000 due from Kingston Court and GBP302,000 from the other two units.
The third asset is 37-bed care home Old Prebendal House in Oxfordshire,England, which Impact Healthcare will purchase for GBP4.8 million. The annual rent will start at GBP330,000, which will rise to GBP390,000 once asset management works have been completed.
For Holmesley and Old Prebendal, the acquisitions will be completion once regulatory approval has been received from the Care Quality Commission for the change of operator.
The three care homes will be leased to existing tenants Careport and Welford, while the two medical units are on existing leases to the National Health Service.
Shares in the healthcare property-focused investor remained flat at 113.00 pence on Monday.
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