Belgian firm Aedifica lands £13m Congleton newbuild

Belgian real estate investment trust outfit Aedifica has agreed to acquire a newbuild 80-bed care home in Congleton in Cheshire for £13m.

Priesty Fields, due to be completed by March 2021, will be operated by Handsale Care Homes on a 30-year lease.

The acquisition of the care home, originally developed by Britannia Healthcare, will be acquired by Aedifica upon completion of the property and registration with the Care Quality Commission. 

Aedifica expects its investment in Priesty Fields to generate a net rental yield of approximately six per cent.

“We are very pleased to announce that Aedifica will invest approximately £13m in a brand-new purpose-built care home in Congleton comprising 80 ensuite bedrooms for seniors requiring continuous care,” said chief executive Stefaan Gielens.

Handsale operates eight care homes throughout the UK.

“Aedifica welcomes this new collaboration with an established, reputable for-profit player in the UK elderly care sector,” the company said in a statement.