Website of The Care Home Environment Magazine

Impact Healthcare REIT snaps up south-west care home for £5.75m

Impact Healthcare REIT has acquired a purpose-built, 83-bed care home in south-west England for £5.75m.

The London care home investor said all of the property’s bedrooms are ensuite and the home has a good reputation locally with a well-established trading history.

Impact Healthcare REIT has appointed one of its existing tenants, Minster Care Management, as the new tenant of this home at an initial rent of £414,000, giving a net initial yield of 7.2 per cent.

The unnamed property benefits from a new, unbroken 20-year lease, with rent subject to an annual upward-only review linked to the Retail Price Index, with a floor of two per cent per annum and an annual cap of four per cent.

In a related development, Impact Healthcare REIT has sold Heeley Bank, a 67-bed care home in Sheffield, which was acquired as part of a portfolio of four homes leased to MMCG in March 2020.

The sale at £1.68m was 29 per cent above the purchase cost of the home and 12 per cent above the carrying value at 30 June 2021.

Upcoming Events

Upcoming Events

Step Communications Ltd, Step House, North Farm Road, Tunbridge Wells, Kent TN2 3DR
Tel: 01892 779999 Fax: 01892 616177
© 2021 Step Communications Ltd. Registered in England. Registration Number 3893025