Priory Care Home
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

Prime Life Care Home Portfolio
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