Listed investor swoops for £7.2m care home
A CARE home in West Yorkshire has been snapped up by a listed investor in a £7.2m deal.
Summerfield House in Halifax was sold to Target Healthcare REIT, the only listed specialist investor in UK care homes.
The home is a modern purpose-built facility with 106 beds over three floors and opened in 2012.
Upon acquisition the home was let to a subsidiary of the Bondcare Group, the national care operator founded in 1996.
Ian Wilkie, director of property firm HPC acted on behalf of the vendor, Ideal Care (North).
He said: “We are pleased to have concluded another successful transaction in the care home sector. In spite of the challenges facing social care at present, this demonstrates there is still appetite for good quality assets and well managed businesses.”
Kenneth MacKenzie, managing partner of Target Advisers, added: “We are pleased to announce the acquisition of this home, which adds a further good quality asset to our portfolio and allows us to support the growth of an existing tenant’s business. This acquisition was contemplated during our recent successful fundraise and we continue to progress other opportunities as we look to invest those proceeds in a timely fashion. We expect to make further announcements in due course.”
