Target Healthcare embarks on acquisition spree

Mon, 20 Jan 2020 | BUSINESS SALE

Target Healthcare has completed the acquisitions of a development site in Cheshire, two further sites in Yorkshire and one in Wales, as well as completing the construction of a Merseyside care home development.

Target Healthcare, a Stirling-based healthcare sector investor, has taken the opportunity to add to its portfolio after raising cash from investors in September 2019.

The Cheshire acquisition sees it enter into a forward-funding agreement on the development of a care home in Rudheath. Once completed, this will be let on a 30-year lease to existing tenant L&M Healthcare.

The three further acquisitions in Yorkshire and Wales were announced in November 2019 and September 2018, respectively. The Yorkshire development are in Scarborough and Pudsey, they will be leased to a subsidiary of care home operator Burlington Care, an existing tenant.

The care home in Newtown, Wales, meanwhile, will be leased to a new tenant, Sandstone Care. Finally, the group announced that a 55-bed care home in Birkdale, Merseyside had reached completion and will open this month and be operated by existing tenant Athena Healthcare Group.

Target Fund Managers head of investment John Flannelly said: “We continue to identify and invest in modern, purpose-built care homes to grow the portfolio, leveraging our experience and proprietary research capabilities and at yields underpinning our ability to consistently deliver attractive returns for shareholders.”

“The Cheshire development follows the £81.3 million of acquisitions announced in November 2019, meaning we have now completed on the pipeline transactions identified at the time of the September 2019 fundraise.”

“These transactions demonstrate our ongoing commitment to support the development of high-quality care homes across the country, further strengthen our relationships with existing tenants whilst allowing us to support a new operator, with proven expertise in the care sector, to enter the care home market.”

Share this article

Latest Businesses for Sale

Domiciliary Care Provider
Wales, UK

A provider of domiciliary care to older individuals and younger adults with physical disabilities/sensory impairments. Services provided by the company include personal care, night shifts, companionship, live-in care, respite and hospital to home. Se...

Asking Price: Offers Invited
Turnover: £2,190,000


Mixed Dental Practice
East Sussex, UK Wide

Well located and parking facilities close by. Fantastic reputation. Highly profitable mixed practice. Huge potential to grow the business. Offers invited.

Asking Price: £770,876
Turnover: £510,207


Mixed Dental Practice
Devon, UK Wide

Three surgery mixed practice with fourth plumbed. High adjusted net profit margin. 80% of the practice income is derived through an NHS contract with a good UDA rate. Genuine growth potential through marketing, additional treatments and the introduct...

Asking Price: £325,000
Turnover: £329,811


View more businesses for sale

News Search

Latest News


Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...


Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...


Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources