Target Healthcare buys two care homes for £14m

Target Healthcare REIT

Target Healthcare REIT, the only listed specialist in UK care homes, has bought two care homes in Dundee, Scotland and Sandiacre, Derbyshire for £14 million.

The purpose-built properties, covering a combined 151 bedrooms with en-suite bathrooms, opened in 2007 and 2015.

Kenneth MacKenzie, managing partner of Target Advisers LLP, commented: “We are delighted to announce the completion of this acquisition which adds a further two quality assets and a new operator to the group’s portfolio.

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“The transaction brings our total funds committed since the May 2016 to over £50 million. We continue to assess other opportunities whilst also constantly monitoring the economic environment to ensure that our strategy remains appropriate.”

The homes will continue to be operated by Hudson Healthcare who becomes Target Healthcare’s 14th tenant.

Target Healthcare REIT owns 31 assets across the UK with a combined 2,091 beds.

The investment fund specialises in purpose built, best-in-class facilities with single occupancy and en-suite facilities.

Its latest acquisition includes a refurbishment programme on one of the properties. Each home is allocated in areas with strong demographics and provides a high level of amenities, lounges and good sized bedrooms as well as access to pleasant secure outdoor areas.

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