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Impact Healthcare REIT announces £21m MMCG care homes acquisition

Thorntree Mews

Impact Healthcare REIT has announced its £21m acquisition of four Maria Mallaband and Countrywide Group (MMCG) care homes.

MMCG will continue to run the homes which offer a combined 296 elderly care beds.

The homes are: Belmont House in Harrogate, which opened in 2007 and has 100 en suite beds; Wallace View in Stirling, which opened in 2004 and has en suite 60 beds; Parksprings in Motherwell, which opened in 1997 and has en suite 70 beds currently with a further 26 to follow this year; and Thorntree Mews in Falkirk (pictured), which is a converted building, with a modern extension, offering a total of 40 beds, over two thirds of which are en suite.

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Impact Healthcare REIT said Parksprings offered the further opportunity to convert a unit formerly leased to the NHS, which is currently mothballed, into a complex care unit.

All four homes will be operated on a 25-year fixed term lease with MMCG having committed to a minimum annual expenditure on their maintenance.

Tags : AcquisitionFinanceMaria Mallaband Care GroupREIT
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The author Lee Peart

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