22nd Dec 2021 10:21
(Alliance News) - Spire Healthcare Group PLC on Wednesday said it has agreed to sell the freehold assets of Spire Cheshire to NWI Jersey Ltd for GBP89 million.
Spire Cheshire is a medium-sized hospital comprising 46 beds, three main theatres and an operations room.
Proceeds from the sale will be used by the private hospital operator to improve its cash position amid Covid-19 uncertainty, as Spire looks to refinance its existing bank debt in 2022, which is due to mature in mid-2023.
Spire Healthcare will continue to operate the Spire Cheshire hospital and lease the property at an initial rent of GBP3.8 million.
Once the sale is complete, Spire's portfolio will comprise 19 freehold and 20 leased properties. The company will publish its annual results on March 3.
Shares in Spire Healthcare were up 1.2% at 247.92 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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