Care Homes Portfolio
Priory Care Home
Leeds, Yorkshire
Leeds, Yorkshire
Description
Care home
Purchase Price
£8.4 million
Net Initial Yield
6.30%
Size
75 en-suite bedrooms
Acquisition Structure
Built asset
Date Acquired
June 2017
Rent Review
Retail Price Inflation (RPI)
Tenant/Guarantor
Priory Investments Holdings Limited
Lease Term
22.8 years unexpired, with no break
Care home
Purchase Price
£8.4 million
Net Initial Yield
6.30%
Size
75 en-suite bedrooms
Acquisition Structure
Built asset
Date Acquired
June 2017
Rent Review
Retail Price Inflation (RPI)
Tenant/Guarantor
Priory Investments Holdings Limited
Lease Term
22.8 years unexpired, with no break
Priory Care Home Portfolio
Diverse locations across Northern Ireland
Diverse locations across Northern Ireland
Description
Portfolio of three specialist care homes
Purchase Price
£14.9 million
Net Initial Yield
6.5%
Acquisition Structure
Pre-let forward commitment and built asset mix
Date Acquired
August 2017
Rent Review
Fixed uplifts of 2.5% pa
Tenant/Guarantor
The Priory Group
Lease Term
29 years unexpired, with no break
Portfolio of three specialist care homes
Purchase Price
£14.9 million
Net Initial Yield
6.5%
Acquisition Structure
Pre-let forward commitment and built asset mix
Date Acquired
August 2017
Rent Review
Fixed uplifts of 2.5% pa
Tenant/Guarantor
The Priory Group
Lease Term
29 years unexpired, with no break
Prime Life Care Home Portfolio
Leicestershire and Lincolnshire
Leicestershire and Lincolnshire
Description
Five modern, purpose built care homes
Purchase Price
£28.5 million
Net Initial Yield
6.5%
Acquisition Structure
Built
Date Acquired
November 2017
Rent Review
Retail Prices Inflation (RPI)
Tenant/Guarantor
Prime Life
Lease Term
31 years unexpired, with no tenant break
Disposal
Following an unsolicited approach, the Company sold part of this portfolio to a UK pension fund in June 2018. The sale generated a 56% geared IRR for the Company and reflected a 17% premium to latest book value
Five modern, purpose built care homes
Purchase Price
£28.5 million
Net Initial Yield
6.5%
Acquisition Structure
Built
Date Acquired
November 2017
Rent Review
Retail Prices Inflation (RPI)
Tenant/Guarantor
Prime Life
Lease Term
31 years unexpired, with no tenant break
Disposal
Following an unsolicited approach, the Company sold part of this portfolio to a UK pension fund in June 2018. The sale generated a 56% geared IRR for the Company and reflected a 17% premium to latest book value
Bupa Care Home
Bristol
Bristol
Description
Residential and nursing care home
Purchase Price
£13.8 million
Net Initial Yield
6.40%
Acquisition Structure
Built asset
Date Acquired
February 2019
Rent Review
Retail Price Inflation (RPI)
Tenant/Guarantor
Bupa Care Homes (ANS) Limited (tenant) and Bupa Care Homes (CFG) plc (guarantor)
Lease Term
23.6 years unexpired, with no break
Residential and nursing care home
Purchase Price
£13.8 million
Net Initial Yield
6.40%
Acquisition Structure
Built asset
Date Acquired
February 2019
Rent Review
Retail Price Inflation (RPI)
Tenant/Guarantor
Bupa Care Homes (ANS) Limited (tenant) and Bupa Care Homes (CFG) plc (guarantor)
Lease Term
23.6 years unexpired, with no break
