Listed real estate firm snaps up nursing home in £3.9m deal

A listed real estate investment trust has acquired a York nursing home for £3.9m.

The Board of Directors of Impact Healthcare REIT, which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, have acquired Birchlands Nursing Home. The initial rent will be £300,000.

Birchlands is a purpose-built nursing home on the outskirts of York with 51 bedrooms. It currently has 100% occupancy and was rated Good by the CQC in its most recent published inspection report.

The Group which acquired the home said it has agreed to appoint one of its existing tenants, Welford, as the new tenant of Birchlands.

The terms of the new 25-year full repairing and insuring lease for the home are the same as the Group’s existing leases with Welford. This is the Group’s third lease with Welford, which now operates four homes with 174 beds for Impact.

Impact Healthcare has agreed exclusivity on a number of further acquisitions and said it was expecting to announce these shortly.

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