Impact Healthcare REIT has announced its first care home acquisitions since pausing activity in March at the onset of the coronavirus pandemic.
The REIT has exchanged contracts on outstanding rated St Peter’s House in Bury St Edmonds and completed the acquisition of nine Holmes Care homes in Scotland.
St Peter’s House (pictured), which is being acquired for £7.4m, is an attractive period property which has been substantially extended and is now largely purpose-built, providing 62 single en-suite bedrooms.
Existing tenant Welford Healthcare Limited has been appointed to operate the home. Welford now operates six homes for Impact with a total of 305 beds and strong rent cover above two times across this portfolio.
Holmes Care became Impact’s 11th tenant after the acquisition of its nine care homes.
Impact’s other ten tenants are: Minster, Croftwood, (both subsidiaries of Minster Care Group), Careport, Prestige, Renaissance, Welford, Maria Mallaband Countrywide Group, NHS Cumbria, Optima and Silverline Care.