Property News
Image default
Business and Economy News UK Property News

Target Healthcare Acquires Two Care Homes of £18.6m

The UK-based real estate investment trust Target Healthcare has announced the completion of two care homes in Ripon, Yorkshire and Stourport, West Midlands in a deal worth approximately £18.6 million.

In a statement released on the London Stock Exchange earlier this morning, the Moors Care Centre in Ripon and the Wharf Care Centre in Stourport fit Target’s mandate of being modern, well-equipped care homes with 100% ensuite wetrooms.

The Moors Care Centre, in Ripon, was constructed in 2015 and comprises of 70 bedrooms, each with full ensuite wetroom facilities.

The Wharf Care Centre, Stourport opened in 2018 and contains 67 bedrooms with full ensuite wetroom facilities. The home is located in a predominantly residential area, close to the centre of Stourport.

John Flannelly, Head of Investment at Target Fund Manager said: “This transaction adds two further high-quality assets, in strong locations, to the portfolio and also allows us to welcome Maria Mallaband, a highly regarded national operator, to our tenant group.

“The Group now has a highly diversified portfolio consisting of 63 assets (including developments), leased to 26 different operators.

“These acquisitions take us closer towards full deployment of our available capital, and we continue to progress our identified pipeline of investment opportunities, with further announcements expected in the near future.”

Related posts

Leave a Comment