Target buys £12.2m care home

Target Managing Partner Kenneth MacKenzie

Target Healthcare REIT Limited has announced that it has purchased a £12.2m purpose-built care home in Kent.

The three-floor home, which is let to Abbeyfield Kent Society, includes 101 bedrooms with ensuite bathrooms, including wet rooms.

Each floor has its own lounge and the home also includes quiet rooms, a hairdressing salon and  therapy room. Outdoor space includes a landscaped garden as well as balconies for the upper floors.

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Kenneth MacKenzie, managing partner of Target Advisers LLP, (pictured) said: “We are extremely pleased to announce completion of this transaction which both increases our exposure to the south east and adds another high quality tenant to the portfolio. By enabling The Abbeyfield Kent Society to move residents from an existing property to this new, purpose built care home, this transaction further demonstrates our ongoing commitment to support care home operators in delivering the highest standards of care in exceptional surroundings.

“The transaction brings our total funds committed since our May 2016 fundraise to c. £70 million. We continue to progress other opportunities.”

Established  in January 2013, Target Healthcare is the only public company buying care home properties in the UK.

Target’s other tenants include Priority, Ideal Care Home Group, Orchard and Caring Homes.

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