Belgian healthcare REIT Aedifica has acquired for an under-construction, 66-bed care home in Shipley, West Yorkshire in an investment worth around £9m.
Aedifica has acquired for around £2m ownership of the plot of land adjacent to the Leeds-Liverpool canal on which the care home is being built.
The company has budgeted approximately £6.5m for construction of the three-storey development due to open by September 2022.
The care home will be operated by Burlington, a private company with nearly 15 years of experience in the UK elderly care sector.
The Shipley development will be let on the basis of a 30-year triple net lease.
Upon completion of the works, the initial net yield will amount to around six per cent.
The care home was initially developed by Torsion Care, which won planning permission from Bradford Council last summer.
The Shipley scheme will be laid out in a split configuration to enable the facility to provide for two types of care: general residential and residential dementia.
The chamfered design allows for a central ‘hub’ area with lounge and dining facilities accessible from bedrooms in both wings, which minimises corridor length.
