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