27th Jan 2015 09:10
LONDON (Alliance News) - Target Healthcare REIT Ltd on Tuesday said it has struck a deal to buy a purpose-built care home in Swaffham in Norfolk in a GBP4.5 million deal.
The Iceni House property has 74 bedrooms, the company said, and has been acquired from Zest Investment Group. The home is leased to Norfolk Care Homes Ltd on a 30-year lease with around 23 years remaining.
The purchase price represents a net initial yield of 7%, Target said.
Target shares were trading down 0.1% at 99.50 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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