Aedifica Secures Four UK Care Homes In £61m Acquisition
Aedifica has acquired three operating care homes and one development to be completed for £61.5m. The settings, which are operated by Oyster Care Homes, are in Sayers Common in Sussex, Broadstairs in Kent, Southampton in Hampshire and Midsomer Norton in Somerset.
The property in Midsomer Norton is currently still under construction and is expected to be completed in Q4 2024.
All care homes are identical in layout and specifications. Catering to the upper mid-market elderly care segment, they meet the highest standards of care and comfort. Each of the care homes accommodates up to 66 residents in spacious bedrooms with en-suite facilities that are specifically tailored to suit the needs of seniors requiring residential care.
Stefaan Gielens, CEO of Aedifica, commented:
“Aedifica continues to underpin the quality of its UK real estate portfolio by investing approx. £61.5 million in a portfolio of four futureproof care homes. Three of them are recent developments and are already trading, while the fourth care home will be completed soon. Each of these purpose-built care properties accommodates up to 66 residents and meets the highest standards of care and comfort.”
Bruce Walker, Country Manager of Aedifica UK, adding:
“This portfolio stands out for its particular focus on sustainability. These futureproof care properties are all highly energy-efficient, which is reflected in excellent ‘A’ EPC scores. Moreover, this transaction deepens our successful relationship with LNT Group, a leading UK care home developer and operator with whom we have now worked on a total of thirteen projects.”
All care homes are operated by Oyster Care Homes, and is controlled by the LNT Group directors and Oyster Care Homes management. The LNT Group, with whom Aedifica has successfully partnered on several projects, has extensive experience in the UK healthcare sector.
The care homes are let on the basis of new fixed 35-year triple net leases. The initial gross rental yield on purchase price amounts to approx. 6.5% and the acquisition will be immediately EPS accretive.
