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Impact Healthcare acquires three care homes for £14.3m

Impact Healthcare REIT has acquired a pair of care homes in Northern Ireland and one in Scotland for a combined cost of £14.3m.

The properties consist of Springhill nursing care home in Kilmarnock, Scotland and two undisclosed sites in Northern Ireland leased to Electus Healthcare.

Springhill care home (pictured) is a four-storey Georgian building with a substantial purpose-built extension offering a total of 61 beds with ensuite wet room facilities. 

Impact paid a net purchase price of £3.25m in a sale and lease back deal with Silverline, with an initial annual rent of £243,000 reflecting a gross yield of 7.5 per cent.

The Northern Ireland care homes located in Belfast and Larne, meanwhile, provide a combined total of 147 ensuite bedrooms.

Impact is to pay a net purchase price of £11.02m to the vendors. The initial annual rent has been agreed at £854,500, reflecting a gross initial yield of 7.8 per cent.

London-based Impact said the three acquisitions will raise the company's total investment to 112 care homes comprising 6,191 beds.

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