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.”
Provides a diverse range of sanitation products, including handwashing and sanitisation stations, alongside rotational moulding services and portable toilet and welfare facility hire.
LEASEHOLD
Traditional home care agency which has been trading successfully since 2010 when it was established by our client.
LEASEHOLD
An independent supplier of personal protective equipment (PPE) for private and commercial customers throughout the UK. Products offered include disposable and washable face masks, hand sanitisers and wipes, thermometers, face shields, Covid testing k...
RELOCATABLE
|
09
|
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
|
09
|
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
|
08
|
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources