49-bed care home sold by real estate investor

Impact Healthcare REIT plc has sold a “non-core” care home for £1.25m, in-line with the latest valuation as of 31 December 2022.

Impact confirmed it has exchanged on the sale of Mulberry Manor, a 49-bed care home in Mexborough, South Yorkshire acquired as part of the seed portfolio in May 2017. Completion of the deal is expected during the first quarter.

The group says the home was not a long-term strategic asset for either itself or the tenant, Minster Care Management Limited, and as part of the group’s active portfolio management strategy, it was jointly marketed.

As part of the sale Impact has entered into a lease surrender with Minster for nil consideration.